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View previous attemp A job order costing system and allocates overhead on the basis of direct labor. Production costs for the
. :59 Job 100 was ordered by a customer on March 25. During the month of March, the job required: $2,300 of direct materials
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Answer #1

1. Beginning WIP+Direct material+Direct labour+ applied overhead-ending WIP= Transferred to finished goods. From the ledger accounts it is evident that amount transferred to finished goods is $367400. Also applied factory overhead is $102420 and since overhead rate is 50% of direct labout cost( we will use predetermined overhead here), direct labour= 113800*2= $227600

113800+direct material+227600+102420-148000= 367400. direct material used= $71580

2. Predetermined overhead rate= Overhead/Direct labour=6900/39000= 17.69%

3. WIP at the end of march= direct material+direct labour+applied manufacturing overhead= 2300+3800+2*3800= $13700

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