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Job Costing (2 points each) Digby uses a job order cost system. The company is working on three different jobs: Jobs 1, 2, an
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Answer #1
Job 1 Job 2 Job 3 Total
Direct Material         4,000         3,000           2,500           9,500
Direct Labor         4,800         2,600           2,800        10,200
Prime costs         8,800         5,600           5,300        19,700
MOH at 60% of prime cost         5,280         3,360           3,180        11,820
Indirect materials               -                  -                    -             1,300
Indirect labor               -                  -                    -                700
TOTAL       14,080         8,960           8,480        33,520
$
1 Material purchased       20,000
Less: Direct Material consumed       (9,500)
Less: Indirect Material consumed       (1,300)
Ending inventory of material         9,200
2 COGM       33,520
3 EWIP;
Job 1       14,080
4 COGS;
Job 2         8,960
5 Ending FG
Job 3         8,480
6 Sale value of Job 2       15,000
Less: COGS       (8,960)
Gross Profit         6,040
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