Homework Answers
Overhead rate = 336113/19130 = 17.57 per DLH
If only Job 101 is included in finished goods inventory then Job 102 and Job 103 would be sold in January
| Job 102 | Job 103 | |
| Direct material | 24661 | 38362 |
| Direct labor | 1202*18 = 21636 | 772*18 = 13896 |
| Overhead | 1202*17.57 = 21119 | 772*17.57 = 13564 |
| Total | 67416 | 65822 |
Cost of goods sold = 67416+65822 = 133238
So answer is a) $133238
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Sampson Company uses a job order cost system with overhead applied based on direct labor hours. See estimated amounts below. Note the beginning balances for Finished Goods (Job 101) and Work-in-Process (Jobs 102 & 103) for the costs accumulated to date. Also note, the beginning balances in the other balance sheet accounts. Estimated Overhead for 2014 720,000 Estimated Direct Labor Hours for 2014 24,000 During January the comapny had the following transactions: Purchased $10,000...
Tyler Tooling Company uses a job order cost system with overhead applied to products on the...
Tyler Tooling Company uses a job order cost system with overhead
applied to products on the basis of machine hours. For the upcoming
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at $252,400 and total machine hours at 63,100. During the first
month of operations, the company worked on three jobs and recorded
the following actual direct materials cost, direct labor cost, and
machine hours for each job: Job 101 Job 102 Job 103 Total Direct
materials used $...
Hildreth Company uses a job order cost system. The following
data summarize the operations related to production for April, the
first month of operations
Print 1. PR. 16-02B ALGO (Algorithmic) Entries and Schedules for Unfinished Jobs and Completed Jobs Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations: a. Materials purchased on account, $3,090. b. Materials requisitioned and factory labor used: Job No. Materials Factory...
5. Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $201,600 and total machine hours at 63,000. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each job: Job 101 Job 102 Job 103 Total Direct materials used...
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $249,600 and total machine hours at 62,400. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each jot Job 101 Job 102 S 8,400 S 5,000 Job 103 S...
Chapter 2. Job Order Costing
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the total machine hours at 63,000. During the first month of operations, the company worked on three jobs and recorded the following a r, the company estimated its total manufacturing overhead cost at $245,700 and irect materials cost, direct labor cost, and machine hours for each job Job 101 Job 102 S 7,100 S...
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Sampson Company uses a job order cost system with overhead applied based on direct labor hours. See estimated amounts below. Note the beginning balances for Finished Goods (Job 101) and Work-in-Process (Jobs 102 & 103) for the costs accumulated to date. Also note, the beginning balances in the other balance sheet accounts. Estimated Overhead for 2014 720,000 Estimated Direct Labor Hours for 2014 24,000 During January the comapny had the following transactions: Purchased $10,000...
I need help with question 8
Sampson Company uses a job order cost system with overhead applied based on direct labor hours. See estimated amounts below. Note the beginning balances for Finished Goods (Job 101) and Work-in-Process (Jobs 102 & 103) for the costs accumulated to date. Also note, the beginning balances in the other balance sheet accounts. Estimated Overhead for 2014 720,000 Estimated Direct Labor Hours for 2014 24,000 During January the comapny had the following transactions: Purchased $10,000...
Tyler Tooling Company uses a job order cost system with overhead
applied to products on the basis of machine hours. For the upcoming
year, the company estimated its total manufacturing overhead cost
at $252,400 and total machine hours at 63,100. During the first
month of operations, the company worked on three jobs and recorded
the following actual direct materials cost, direct labor cost, and
machine hours for each job: Job 101 Job 102 Job 103 Total Direct
materials used $...
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