Question

Job Order Cost Flow P3. On May 31, the inventory balances of Tog Designs, a manufacturer of high-quality children's clothing, were as follows: Materials Inventory, $21,360; Work in Process Inventory, $15,112; and Finished Goods Inventory, $17,120. Job order cost cards for jobs in process as of June 30 had the following totals: Job No. Direct Materials Direct Labor Overhead $1,290 24-A $1,593 $1,677 24-B 1,492 1,380 1,794 1,987 1,608 1,760 1,540 24-C 2,288 24-D 2,002 The predetermined overhead rate is 130 percent of direct labor costs. Materials pur- chased and received in June were as follows. 33,120 June 4 June 16 28,600 1,920 June 22 Direct labor costs for June were as follows June 15 payroll 23,680 June 29 payroll 25,960 Direct materials requested by production during June were as follows June 6 37.240 June 23 38,960 On June 30, Tog Designs sold on account finished goods with a cost of $183,000 for $320,000 Compute the cost of units completed during the month.

Answer 1

	Direct Materials	Direct labor	Overhead
24-A	$ 1,593.00	$ 1,290.00	$ 1,677.00
24-B	$ 1,492.00	$ 1,380.00	$ 1,794.00
24-C	$ 1,987.00	$ 1,760.00	$ 2,288.00
24-D	$ 1,608.00	$ 1,540.00	$ 2,002.00
Total	$ 6,680.00	$ 5,970.00	$ 7,761.00

Work in Process as on June 30 = $6680 + $5970 + $7761 = $20411

Work in Process as on May 31	$    15,112.00
Materials Requested by Production	$    76,200.00
Direct Labor Costs	$    49,640.00
Overheads	$    64,532.00
Work in Process as on June 30	$ (20,411.00)
Cost of Units Completed	$ 185,073.00

Overheads = $49640 x 130% = $64532