At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. Job 6 Job 7 $ 33,000 14, 200 7,100 $ 27,000 21,000 10,500 At June 30 Direct materials Direct labor Overhead applied Additional Information a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $6,000; direct labor, $1,800; and applied overhead, $900. Job 5 was finished in June. 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. Job 5 $ 15,000 8,000 4,000 What is the predetermined overhead rate?

At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. Job 6 Job 7 $ 33,000 14, 200 7,100 $ 27,000 21,000 10,500 At June 30 Direct materials Direct labor Overhead applied Additional Information a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $6,000; direct labor, $1,800; and applied overhead, $900. Job 5 was finished in June. 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. Job 5 $ 15,000 8,000 4,000 What is the predetermined overhead rate?

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Description: [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.Job 7$ 27,00021,00010,500At June 30Direct materialsDirect laborOverhead ap

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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