The Lee Corporation uses a job-order costing system. The following data were recorded for June: June...
The Lee Corporation uses a job-order costing system. The
following data were recorded for June:
| June 1 | Added During June | ||
| Job Number | Work in Process Inventory | Direct Materials | Direct Labor |
| 235 | $3,150 | $860 | $595 |
| 236 | $2,210 | $1,260 | $1,435 |
| 237 | $1,585 | $1,720 | $2,530 |
| 238 | $1,125 | $2,410 | $3,290 |
Overhead is charged to production at 90% of direct materials cost.
Jobs 235, 237, and 238 were completed during June and transferred
to finished goods. Jobs 235 and 238 have been delivered to
customers. Actual manufacturing overhead was equal to manufacturing
overhead applied. There were no Finished Goods inventories at the
beginning of June.
Lee's Work in Process inventory balance on June 30 was:
rev: 10_24_2017_QC_CS-103206
$6,039
$11,549
$4,905
$6,199
Homework Answers
Only job 236 is in work in process at the end of the month.
Overhead applied during the month = 1,260*90% = 1,134
Total work in process= 2,210 + 1,260 + 1,435 + 1,134 = 6,039
Answer is 6,039
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The Lee Corporation uses a job-order costing system. The
following data were recorded for June:
June...
The Lee Company uses a job-order costing system. The following data were recorded...continues
The Lee Company uses a job-order costing system. The following data were recorded for June:Added During June----JobNumberJune 1Work in ProcessInventory DirectMaterials DirectLabor235 $2,500 $600 $400236 $1,500 $800 $1,000237 $1,000 $1,200 $1,750238 $800 $1,500 $2,250Overhead is charged to production at 80% of direct materials cost. Jobs 235, 237, and 238 were completed during June and transferred to finished goods. Jobs 235 and238 have been delivered to customers.20. Lee Company's cost of goods sold for June wasA. $14,640.B. $15,520.C. $9,730.D. $10,170.Please SHOW...
Midterm 1 The Lee Company uses a job-order cost system. The following data were recorded for...
Midterm 1 The Lee Company uses a job-order cost system. The following data were recorded for June: Job Number 235 236 237 June 1 Work in Process Inventory $2,500 $1,500 $1,000 $ 800 Added During June Direct Direct Materials Labor $ 600 S 400 S 800 $1,000 $1,200 $1,750 $1,500 $2,250 238 Overhead is charged to production at 80% of direct materials cost. Jobs 235, 237, and 238 were completed during June and transferred to finished goods. Jobs 235 and...
Kenworth Company uses a job-order costing system. Only three jobs—Job 105, Job 106, and Job 107—were...
Kenworth Company uses a job-order costing system. Only three
jobs—Job 105, Job 106, and Job 107—were worked on during November
and December. Job 105 was completed on December 10; the other two
jobs were still in production on December 31, the end of the
company’s operating year. Data from the job cost sheets of the
three jobs follow:
Job Cost Sheet
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Job 106
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November costs incurred:
Direct materials
$
20,500
$
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$
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Problem for Job Order Costing
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Kapanga Manufacturing Corporation uses a job-order costing system and started the month of October with a zero balance in its work in process and finished goods inventory accounts. During October Kapanga worked on three jobs and incurred the following direct costs on those jobs Direct materials Direct labor Job 318 $ 12,000 $ 8,000 Job 319 $ 25,000 $ 10,000 Job C11 $ 18,000 $ 5,000 Kapanga applies manufacturing overhead at a rate of 150% of direct labor cost. During...
Moor Company uses a job-order costing system and applies overhead costs to jobs at a rate...
Moor Company uses a job-order costing system and applies overhead costs to jobs at a rate of 120% of direct labor cost. Moor Comp any started the month of June with three jobs in process. The cost of beg inning work in process plus the costs added during June are shown below: Job #1 - A Job #3-G Job #7-L beginning work in process $3,720 $2,690 $3,250 COSTS ADDED DURING JUNE: $3,950 $4,680 direct materials $2,870 direct labor 2,410 3,530...
Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company’s inventory balances...
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Jensen Fences overhead rate based on direct la the month of June. uses job order costing. Manufacturing overhead is charged to individual jobs through the use of a predetermined bor costs. The following information appears in the company's Work in Process Inventory account for Debits to account: Balance, June 1 Direct materials Direct labor Manufacturing overhead (applied to jobs as 125% of direct labor cost) 5,eee 18,800 12,300 15,375 Total debits to account $50,675 Credits to account: Transferred to Finished...
Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances...
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Data for the next 4 questions: The Donaldson Company uses a job-order cost system. The following...
Data for the next 4 questions: The Donaldson Company uses a job-order cost system. The following data were recorded for June: June 1st DM and DL Costs Added During June Work in Process Job Number Inventory (per Job Direct Materials Direct Labor Cost Sheets) 175 $1,800 $1,000 $ 400 $1,000 $1,500 $ 800 I 177 $ 600 $2,000 $1,200 178 $ 700 $1,500 $1,000 Overhead is applied to jobs at the rate of 60 percent of direct labor cost. Jobs...
Midterm 1 The Lee Company uses a job-order cost system. The following data were recorded for June: Job Number 235 236 237 June 1 Work in Process Inventory $2,500 $1,500 $1,000 $ 800 Added During June Direct Direct Materials Labor $ 600 S 400 S 800 $1,000 $1,200 $1,750 $1,500 $2,250 238 Overhead is charged to production at 80% of direct materials cost. Jobs 235, 237, and 238 were completed during June and transferred to finished goods. Jobs 235 and...
Kenworth Company uses a job-order costing system. Only three
jobs—Job 105, Job 106, and Job 107—were worked on during November
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jobs were still in production on December 31, the end of the
company’s operating year. Data from the job cost sheets of the
three jobs follow:
Job Cost Sheet
Job 105
Job 106
Job 107
November costs incurred:
Direct materials
$
20,500
$
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$
0...
Problem for Job Order Costing
Tiny Homes uses a job costing system to account for the individual prefabricated homes of January 1, its accounting records showed inventories as follows the individual prefabricated homes it builds. As Materials and supplies Work in process (Jobs 422 and 423) Finished goods (Job 421) $120,000 180,000 175,000 The work in process in ventory consisted of two jobs: Job# 422 423 Direct Materials $36,000 Direct Labor Manufacturing Overh $40,000 $20,000 $96,000 $36,000 $180,000 $76,000 $68,000...
Kapanga Manufacturing Corporation uses a job-order costing system and started the month of October with a zero balance in its work in process and finished goods inventory accounts. During October Kapanga worked on three jobs and incurred the following direct costs on those jobs Direct materials Direct labor Job 318 $ 12,000 $ 8,000 Job 319 $ 25,000 $ 10,000 Job C11 $ 18,000 $ 5,000 Kapanga applies manufacturing overhead at a rate of 150% of direct labor cost. During...
Moor Company uses a job-order costing system and applies overhead costs to jobs at a rate of 120% of direct labor cost. Moor Comp any started the month of June with three jobs in process. The cost of beg inning work in process plus the costs added during June are shown below: Job #1 - A Job #3-G Job #7-L beginning work in process $3,720 $2,690 $3,250 COSTS ADDED DURING JUNE: $3,950 $4,680 direct materials $2,870 direct labor 2,410 3,530...
Jensen Fences overhead rate based on direct la the month of June. uses job order costing. Manufacturing overhead is charged to individual jobs through the use of a predetermined bor costs. The following information appears in the company's Work in Process Inventory account for Debits to account: Balance, June 1 Direct materials Direct labor Manufacturing overhead (applied to jobs as 125% of direct labor cost) 5,eee 18,800 12,300 15,375 Total debits to account $50,675 Credits to account: Transferred to Finished...
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