Job Costing
Johnson Inc. is a job-order manufacturing company that uses a predetermined overhead rate based on direct labor-hours to apply overhead to individual jobs. For 2010, estimated direct labor-hours are 95,000, and estimated factory overhead is $617,500. The following information is for September 2010. Job A was completed during September, and Job B was started but not finished.
September 1, 2010, inventories |
|
Materials inventory | $ 7,500 |
Work-in-process inventory (All Job A) | 31,200 |
Finished goods inventory | 67,000 |
Material purchases | 104,000 |
Direct materials requisitioned |
|
Job A | 65,000 |
Job B | 33,500 |
Direct labor-hours |
|
Job A | 4,200 |
Job B | 3,500 |
Labor costs incurred |
|
Direct labor ($8.50/hour) | 65,450 |
Indirect labor | 13,500 |
Supervisory salaries | 6,000 |
Rental costs |
|
Factory | 7,000 |
Administrative offices | 1,800 |
Total equipment depreciation costs |
|
Factory | 7,500 |
Administrative offices | 1,600 |
Indirect materials used | 12,000 |
Required
1. What is the total cost of Job A?
2. What is the total factory overhead applied during September?
3. What is the overapplied or underapplied overhead for September?
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