The Lee Company uses a job-order costing system. The following data were recorded...continues
Added During June----
Job
Number
June 1
Work in Process
Inventory Direct
Materials Direct
Labor
235 $2,500 $600 $400
236 $1,500 $800 $1,000
237 $1,000 $1,200 $1,750
238 $800 $1,500 $2,250
Overhead is charged to production at 80% of direct materials cost. Jobs 235, 237, and 238 were completed during June and transferred to finished goods. Jobs 235 and238 have been delivered to customers.
20. Lee Company's cost of goods sold for June was
A. $14,640.
B. $15,520.
C. $9,730.
D. $10,170.
Please SHOW HOW to get this answer
Homework Answers
Calculate the Company’s cost of goods sold for June:
cost of goods sold would be the cost of the two jobs that were sold, 235 and 238 :
Therefore, Option c is correct i.e. $ 9,730
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The Lee Company uses a job-order costing system. The following data were recorded...continues
Midterm 1 The Lee Company uses a job-order cost system. The following data were recorded for...
Midterm 1 The Lee Company uses a job-order cost system. The following data were recorded for June: Job Number 235 236 237 June 1 Work in Process Inventory $2,500 $1,500 $1,000 $ 800 Added During June Direct Direct Materials Labor $ 600 S 400 S 800 $1,000 $1,200 $1,750 $1,500 $2,250 238 Overhead is charged to production at 80% of direct materials cost. Jobs 235, 237, and 238 were completed during June and transferred to finished goods. Jobs 235 and...
The Lee Corporation uses a job-order costing system. The following data were recorded for June: June...
The Lee Corporation uses a job-order costing system. The following data were recorded for June: June 1 Added During June Job Number Work in Process Inventory Direct Materials Direct Labor 235 $3,150 $860 $595 236 $2,210 $1,260 $1,435 237 $1,585 $1,720 $2,530 238 $1,125 $2,410 $3,290 Overhead is charged to production at 90% of direct materials cost. Jobs 235, 237, and 238 were completed during June and transferred to finished goods. Jobs 235 and 238 have been delivered to customers....
Data for the next 4 questions: The Donaldson Company uses a job-order cost system. The following...
Data for the next 4 questions: The Donaldson Company uses a job-order cost system. The following data were recorded for June: June 1st DM and DL Costs Added During June Work in Process Job Number Inventory (per Job Direct Materials Direct Labor Cost Sheets) 175 $1,800 $1,000 $ 400 $1,000 $1,500 $ 800 I 177 $ 600 $2,000 $1,200 178 $ 700 $1,500 $1,000 Overhead is applied to jobs at the rate of 60 percent of direct labor cost. Jobs...
Question 13 points) Data for the next 2 questions: The Shaw Company uses a job-order cost...
Question 13 points) Data for the next 2 questions: The Shaw Company uses a job-order cost system. Factory overhead is applied to jobs at the rate of 140% of direct labor cost. Jobs 475, 477, and 478 were completed during April and transferred to finished goods. Jobs 475 and 478 have been delivered to the customer. The following data were recorded for April: 100 Added During April Direct Direct Number Materials Labor $ 500 S 800 476 $ 700 $1,000...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Samuelson's Work in Process inventory balance on June 30 was: The Samuelson Company uses a job-order...
Samuelson's Work in Process inventory balance on June 30
was:
The Samuelson Company uses a job-order cost system. The following data were recorded for June June 1 Added During June Work in Process Direct Direct Job Number Inventory Materials Labor 475 $1,000 $ 400 $ 200 476 $ 900 $ 600 $ 800 477 $ 800 $ 900 $1,400 478 $ 600 $1,100 $1,900 Overhead is charged to production at 70% of the direct materials cost. Jobs 475, 477, and...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Midterm 1 The Lee Company uses a job-order cost system. The following data were recorded for June: Job Number 235 236 237 June 1 Work in Process Inventory $2,500 $1,500 $1,000 $ 800 Added During June Direct Direct Materials Labor $ 600 S 400 S 800 $1,000 $1,200 $1,750 $1,500 $2,250 238 Overhead is charged to production at 80% of direct materials cost. Jobs 235, 237, and 238 were completed during June and transferred to finished goods. Jobs 235 and...
Data for the next 4 questions: The Donaldson Company uses a job-order cost system. The following data were recorded for June: June 1st DM and DL Costs Added During June Work in Process Job Number Inventory (per Job Direct Materials Direct Labor Cost Sheets) 175 $1,800 $1,000 $ 400 $1,000 $1,500 $ 800 I 177 $ 600 $2,000 $1,200 178 $ 700 $1,500 $1,000 Overhead is applied to jobs at the rate of 60 percent of direct labor cost. Jobs...
Question 13 points) Data for the next 2 questions: The Shaw Company uses a job-order cost system. Factory overhead is applied to jobs at the rate of 140% of direct labor cost. Jobs 475, 477, and 478 were completed during April and transferred to finished goods. Jobs 475 and 478 have been delivered to the customer. The following data were recorded for April: 100 Added During April Direct Direct Number Materials Labor $ 500 S 800 476 $ 700 $1,000...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Samuelson's Work in Process inventory balance on June 30
was:
The Samuelson Company uses a job-order cost system. The following data were recorded for June June 1 Added During June Work in Process Direct Direct Job Number Inventory Materials Labor 475 $1,000 $ 400 $ 200 476 $ 900 $ 600 $ 800 477 $ 800 $ 900 $1,400 478 $ 600 $1,100 $1,900 Overhead is charged to production at 70% of the direct materials cost. Jobs 475, 477, and...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
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