**Educational Content: Job Costs Analysis**At the end of August, Carrothers Company had completed Jobs 50 and 56. Job 50 is for 1,000 units, and Job 56 is for 200 units.The following data relate to these two jobs:- **On August 4**, raw materials were requisitioned for production as follows: 800 units for Job 50 at $14 per unit and 1,100 units for Job 56 at $12 per unit.- **During August**, Carrothers Company accumulated 500 hours of direct labor costs on Job 50 and 400 hours on Job 56. The total direct labor was incurred at a rate of $16 per direct labor hour for Job 50 and $16 per direct labor hour for Job 56.- The predetermined factory overhead rate is $11.00 per direct labor hour.### Tasks:a. Determine the balance on the job cost sheets for Jobs 50 and 56 at the end of August. **Job 50** $ __________ **Job 56** $ __________ b. Determine the cost per unit for Jobs 50 and 56 at the end of August. If required, round your answers to the nearest cent. **Job 50** $__________ **Job 56** $__________ *Please refer to the job cost sheets to input the final balances and calculate the unit costs.*

Name: **Educational Content: Job Costs Analysis**At the end of August, Carr
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Description: **Educational Content: Job Costs Analysis**At the end of August, Carrothers Company had completed Jobs 50 and 56. Job 50 is for 1,000 units, and Job 56 is for 200 units.The following data relate to these two jobs:- **On August 4**, raw materials wer

Job Costing is a method of accounting designed to manage the revenues and costs associated with a…

Business

Accounting

a. Determine the balance on the job cost sheets for Jobs 50 and 56 at the end of August. Job 50 Job 56 BEI b. Determine the cost per unit for Jobs 50 and 52 at the end of August. If required, round your answers to the nearest cent. Job 50 Job 56

a. Determine the balance on the job cost sheets for Jobs 50 and 56 at the end of August. Job 50 Job 56 BEI b. Determine the cost per unit for Jobs 50 and 52 at the end of August. If required, round your answers to the nearest cent. Job 50 Job 56

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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Required information [The following information applies to the questions displayed below.] At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. At June 30 Direct materials. Direct labor Overhead applied Job 5 $ 15,800 8,800 4,400 Job 6 $33,400 15,000 7,500 Additional Information a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $6,400; direct labor, $2,200; and applied overhead, $1,300. Job 5 was finished in June. Predetermined overhead rate b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months. 3. What is the predetermined overhead rate? Job 7 $ 27,400 21,800 10,900 %
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