Question

Bonita Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $ 21,200 direct labor $ 12,720, and manufacturing overhead $ 16,960. As of January 1, Job 49 had been completed at a cost of $ 95,400 and was part of finished goods inventory. There was a $ 15,900 balance in the Raw Materials Inventory account. During the month of January, Bonita Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were sold during the month. The following additional events occurred during the month. 1. 2. 3 Purchased additional raw materials of $ 95,400 on account. Incurred factory labor costs of $ 74,200. Incurred manufacturing overhead costs as follows: indirect materials $ 18,020; indirect labor $ 21,200 ; depreciation expense on equipment $ 12,720; and various other manufacturing overhead costs on account $ 16,960 Assigned direct materials and direct labor to jobs as follows. 4 Job No. 50 51 52 Direct Materials $ 10,600 41,340 31,800 Direct Labor $5,300 26,500 21.200

Answer 1

Job No. 50
Date	Direct Materials	Direct Labor	Manufacturing Overhead
Beg.	$                    21,200	$           12,720	$                                       16,960
Jan.	$                    10,600	$              5,300	$                                         6,360
	$                    31,800	$           18,020	$                                       23,320
Cost of completed Job
Direct materials			$                                       31,800
Direct labor			$                                       18,020
Manufacturing overhead			$                                       23,320
Total Cost			$                                       73,140

Job No. 51
Date	Direct Materials	Direct Labor	Manufacturing Overhead
Jan.	$                    41,340	$           26,500	$                                       31,800
	$                    41,340	$           26,500	$                                       31,800
Cost of completed Job
Direct materials			$                                       41,340
Direct labor			$                                       26,500
Manufacturing overhead			$                                       31,800
Total Cost			$                                       99,640

Job No. 52
Date	Direct Materials	Direct Labor	Manufacturing Overhead
Jan.	$                    31,800	$           21,200	$                                       25,440