A company had the following total usage of direct labor and direct materials Direct Labor (P8 per hour) 400 Hour Direct Materials (Pl0 per pound) 300 Pounds Incomplete job # 101 has used 20 hours of direct labor and 8 pounds of direct materials. Factory overhead is applied at the rate of 200% per direct labor peso. What is the balance in work in process relating to job # 101?

A company had the following total usage of direct labor and direct materials Direct Labor (P8 per hour) 400 Hour Direct Materials (Pl0 per pound) 300 Pounds Incomplete job # 101 has used 20 hours of direct labor and 8 pounds of direct materials. Factory overhead is applied at the rate of 200% per direct labor peso. What is the balance in work in process relating to job # 101?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Job number S-1000 had the following data: Direct Labor hours used: Direct Materials used: Hourly wage rate: 32 $750 $45/hr. Overhead allocation rate: $15/direct labor hr. Assuming this was the only job completed this month, what was the total cost of Job S-1000?
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