Problem

Flower City CartridgesFlower City Cartridges (FCC) manufactures replacement cartridges for...

Flower City Cartridges

Flower City Cartridges (FCC) manufactures replacement cartridges for desktop printers. FCC uses standard costs within a job order cost system. In June, FCC purchased 18 gallons of blue ink for $385.20 and produced the following four different cartridge jobs using the blue ink (and other inks, materials, and direct labor):

Jobs

Blue Ink, Gallons Used

CJ120

4.2

HP9X2

3.9

CN417

3.8

XRX776

4.4

All four jobs have a blue ink materials standard that calls for four gallons of blue ink per job. Blue ink has a standard cost of $20 per gallon. These were the only jobs calling for blue ink in June. There was no beginning blue ink inventory on June 1.

Required:

Prepare a table that indicates the financial disposition of the historical cost of the blue ink purchased in June. (That is, account for the $385.20 blue ink purchase.)

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Solutions For Problems in Chapter 12