Prepare Job-Order Cost Sheets, Predetermined Overhead Rate, Ending Balance of WIP, Finished Goods, and COGS
At the beginning of March, Mendez Company had two jobs in process, Job 86 and Job 87, with the following accumulated cost information:
Job 86 Job 87
Direct materials $4,800 $1,600
Direct labor 1,200 3,000
Applied overhead 888 2,220
Balance, March 1 $6,888 $6,820
During March, two more jobs (88 and 89) were started. The following direct materials and direct labor costs were added to the four jobs during the month of March:
Job 86 Job 87 Job 88 Job 89
Direct materials $3,000 $7,000 $2,100 $1,500
Direct labor 800 6,000 900 500
At the end of March, Jobs 86, 87, and 89 were completed. Only Job 87 was sold. On March 1, the balance in Finished Goods was zero.
Required:
1. Calculate the overhead rate based on direct labor cost.
$ %
2. Prepare a brief job-order cost sheet for the four jobs. Show the balance as of March 1 as well as direct materials and direct labor added in March. Apply overhead to the four jobs for the month of March, and show the ending balances.
Answers: 2
Other questions on the subject: Business
Business, 22.06.2019 09:40, watervliet2586
The relationship requirement for qualifying relative requires the potential qualifying relative to have a family relationship with the taxpayer. t or fwhich of the following is not a from agi deduction? a. standard deductionb. itemized deductionc. personal exemptiond. none of these. all of these are from agi deductions
Answers: 3
Business, 22.06.2019 10:50, lindalu
Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.
Answers: 3
Business, 22.06.2019 13:30, starlodgb1971
Tom has brought $150,000 from his pension to a new job where his employer will match 401(k) contributions dollar for dollar. each year he contributes $3,000. after seven years, how much money would tom have in his 401(k)?
Answers: 3
Business, 22.06.2019 21:20, dorianhenderson987
Label each of the following statements true, false, or uncertain. explain your choice carefully. a. workers benefit equally from the process of creative destruction. b. in the past two decades, the real wages of low-skill u. s. workers have declined relative to the real wages of high-skill workers. c. technological progress leads to a decrease in employment if, and only if, the increase in output is smaller than the increase in productivity. d. the apparent decrease in the natural rate of unemployment in the united states in the second-half of the 1990s can be explained by the fact that productivity growth was unexpectedly high during that period.
Answers: 3
Do you know the correct answer?
Prepare Job-Order Cost Sheets, Predetermined Overhead Rate, Ending Balance of WIP, Finished Goods, a...
Questions in other subjects:
English, 27.06.2019 05:40
Mathematics, 27.06.2019 05:40
Mathematics, 27.06.2019 05:40
Physics, 27.06.2019 05:40
Mathematics, 27.06.2019 05:40
