Homework Answers
Answer:
1&2) Direct materials
| Job | May | June | Total |
| 102 | $12,000 | $ 25,000 | $ 37,000 |
| 103 | - | $ 60,000 | $ 60,000 |
| 104 | - | $ 46,000 | $ 46,000 |
| Total | $12,000 | $ 131,000 | $ 143,000 |
Direct labor:
| Job | May | June | Total |
| 102 | $ 3,900 | $ 18,000 | $ 21,900 |
| 103 | - | $ 25,200 | $ 25,200 |
| 104 | - | $ 9,614 | $ 9,614 |
| Total | $ 3,900 | $ 52,814 | $ 56,714 |
3)Overhead Rate
| Job | Choose Numerator | Choose Denominator | Overhead rate |
| 102 | 6,840 | 18,000 | 38% |
| 104 | 17,100 | 45,000 | 38% |
Predetermined Overhead rate used during June = 38%
4)
| Job | Direct material | Direct labor | Applied overhead | Total cost |
| 102 | $ 25,000 | $ 18,000 | $ 6,840 | $ 49,840 |
| 103 | $ 60,000 | $ 25,200 | $ 9,614 | $ 94,814 |
| 104 | $ 46,000 | $ 45,000 | $ 17,100 | $ 108,100 |
| Total | $ 131,000 | $ 88,200 | $ 33,554 | $ 252,754 |
In the given data , relation between Total cost and cost transferred to finished goods was not given
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Help Sav Exercise 2-3 Analysis ot cost tlows LO Cz As of the end of June,...
Exercise 15-3 Analysis of cost flows LO C2 As of the end of June, the job...
Exercise 15-3 Analysis of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $42,000 17,000 8,330 Job 103 $59,000 26,000 12,740 Job 104 $51,000 38,000 18,620 Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $11,000; direct labor, $3,500; and overhead, $1,715....
Exercise 15-3 Analysis of cost flows LO C2 As of the end of June, the job...
Exercise 15-3 Analysis of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc. show the following total costs accumulated on three custom jobs Direct materials Direct labor Overhead applied Job 102 $35,000 19.000 3,550 ob 103 $53,000 27.000 12,150 Job 184 $57,000 40.000 18,00 Job 102 was started in production in May and the following costs were assigned to it in May direct materials, $11.000, direct labor $3,700, and overhead, $1,665...
Exercise 15-3 Analyzing of cost flows LO C2 As of the end of June, the job...
Exercise 15-3 Analyzing of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $32,000 18,000 8,460 Job 103 $49,000 28,700 13,489 Job 104 $47,000 41,000 19,270 Job 102 was started in production in May, and the following costs were assigned to it in May, direct materials. $12,000, direct labor, $4,000, and overhead, $1.880....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $26,000 20,000 6,800 Job 103 $55,000 27,200 9,248 Job 104 $55,000 42,000 14,280 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $14,000; direct labor, $3,100; and overhead, $1,054. Jobs 103 and 104 were started in June....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $15,000 8,000 4,000 Job 103 $33,000 14,200 7,100 Job 104 $27,000 21,000 10,500 Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $6,000; direct labor, $1,800; and overhead, $900. Jobs 103 and 104 were started in June....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $17,000 16,000 5,280 Job 103 $53,000 27,100 8,943 Job 104 $53,000 40,000 13,200 Job 102 was started in production in May and the following costs were assigned to it in May: direct materials. $8,000; direct labor. $2,900; and overhead, $957. Jobs 103 and 104 were started in June....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs Direct materials Direct labor Overhead applied Job 102 $19,000 15, 000 7, 200 Job 103 $75,000 27,000 12, 960 Job 104 $54, 000 38,000 18, 240 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $15,000, direct labor, $3,800, and overhead, $1,824. Jobs 103 and...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $27,000 17,000 6,120 Job 103 $58,000 25,600 9,216 Job 104 $63,000 43,000 15,480 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $12,000; direct labor, $3,000; and overhead, $1,080. Jobs 103 and 104 were started in June....
please answer 1-4. Exercise 02-3 Analyzing of cost flows LO C2 As of the end of...
please answer 1-4.
Exercise 02-3 Analyzing of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $15,000 3.000 4,000 Job 103 $33,000 14,200 7,100 Job 104 $27,000 21.000 10,500 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $6,000: direct labor, $1,800;...
Che As of the end of June, the job cost sheets at Racing Wheels, Inc., show...
Che As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Job 102 Job 103 Job 104 Direct materials $56,000 $38,000 13,000 5, 200 $58,000 41,000 16,400 Direct labor 25,600 10,240 Overhead applied Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $12,000; direct labor, $3,300; and overhead, $1,320. Jobs 103 and 104 were started...
Exercise 15-3 Analysis of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $42,000 17,000 8,330 Job 103 $59,000 26,000 12,740 Job 104 $51,000 38,000 18,620 Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $11,000; direct labor, $3,500; and overhead, $1,715....
Exercise 15-3 Analysis of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc. show the following total costs accumulated on three custom jobs Direct materials Direct labor Overhead applied Job 102 $35,000 19.000 3,550 ob 103 $53,000 27.000 12,150 Job 184 $57,000 40.000 18,00 Job 102 was started in production in May and the following costs were assigned to it in May direct materials, $11.000, direct labor $3,700, and overhead, $1,665...
Exercise 15-3 Analyzing of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $32,000 18,000 8,460 Job 103 $49,000 28,700 13,489 Job 104 $47,000 41,000 19,270 Job 102 was started in production in May, and the following costs were assigned to it in May, direct materials. $12,000, direct labor, $4,000, and overhead, $1.880....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $26,000 20,000 6,800 Job 103 $55,000 27,200 9,248 Job 104 $55,000 42,000 14,280 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $14,000; direct labor, $3,100; and overhead, $1,054. Jobs 103 and 104 were started in June....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $15,000 8,000 4,000 Job 103 $33,000 14,200 7,100 Job 104 $27,000 21,000 10,500 Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $6,000; direct labor, $1,800; and overhead, $900. Jobs 103 and 104 were started in June....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $17,000 16,000 5,280 Job 103 $53,000 27,100 8,943 Job 104 $53,000 40,000 13,200 Job 102 was started in production in May and the following costs were assigned to it in May: direct materials. $8,000; direct labor. $2,900; and overhead, $957. Jobs 103 and 104 were started in June....
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs Direct materials Direct labor Overhead applied Job 102 $19,000 15, 000 7, 200 Job 103 $75,000 27,000 12, 960 Job 104 $54, 000 38,000 18, 240 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $15,000, direct labor, $3,800, and overhead, $1,824. Jobs 103 and...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $27,000 17,000 6,120 Job 103 $58,000 25,600 9,216 Job 104 $63,000 43,000 15,480 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $12,000; direct labor, $3,000; and overhead, $1,080. Jobs 103 and 104 were started in June....
please answer 1-4.
Exercise 02-3 Analyzing of cost flows LO C2 As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $15,000 3.000 4,000 Job 103 $33,000 14,200 7,100 Job 104 $27,000 21.000 10,500 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $6,000: direct labor, $1,800;...
Che As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Job 102 Job 103 Job 104 Direct materials $56,000 $38,000 13,000 5, 200 $58,000 41,000 16,400 Direct labor 25,600 10,240 Overhead applied Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $12,000; direct labor, $3,300; and overhead, $1,320. Jobs 103 and 104 were started...
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