ob A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $2,500 of direct materials and used $4,000 of direct labor. The job was not finished by the end of September, but needed an additional $3,000 of direct materials and additional direct labor of $6,500 to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. What is the balance in the Work in Process account at the end of September relative to Job A3B?
Multiple Choice
$5,500
$11,500
$6,500
$9,500
$14,500 ==> Is it correct answer ?
Answer is $14,500
Work in Process account balance for Job A3B at September End = Direct Materials used in September + Direct Labor used in September + Overhead for the month of September
Direct Materials used in September = $2,500 (given)
Direct Labor used in September = $4,000 (given)
Overhead = 200% of Direct Labor incurred in September
Overhead = 200 % of $4,000
Overhead = $8,000
So, Work in Process account balance for Job A3B at September End = $2,500 + $4,000 + $8,000
= $14,500
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ob A3B was ordered by a customer on September 25. During the month of September, Jaycee...
Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $2,500 of direct materials and used $4,000 of direct labor. The job was not finished by the end of September but needed an additional $3,000 of direct materials and additional direct labor of $6,500 to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. What...
Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $2,500 of direct materials and used $4,000 of direct labor. The job was not finished by the end of the month, but needed an additional $3,000 of direct materials and additional direct labor of $6,500 to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred....
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