At the end of June, job cost sheets for Kennedy Manufacturing show the following total costs accumulated on three custom jobs:
Job 203 was started in production in May and the following costs were assigned to it in May: direct materials, $12,000; direct labor, $6,000; and overhead $8,700. Jobs 204 and 205 are started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 203 and 204 are finished in June, and Job 205 will be finished in July. No raw materials are used indirectly in June. Using this information, answer the following questions assuming the company's predetermined overhead rate did not change.
a. What is the total cost of direct materials requisitioned in June for the three jobs?
b. What is the total direct labor cost incurred during June for the three jobs?
c. What predetermined overhead rate is used during June?
d. How much total cost is transferred to finished goods during June?
Correct Answer:
Verified
Q187: Oddley Corp.uses a job order costing system.The
Q197: A company charged the following amounts of
Q201: A _ is calculated by dividing total
Q203: A _ accounting system accumulates production costs
Q204: When direct labor is assigned to specific
Q207: In a job order costing system, raw
Q208: When the actual overhead incurred during an
Q209: The total cost on job cost sheets
Q215: The predetermined overhead rate for Shilling Manufacturing
Q216: Match the following terms to the appropriate
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents