!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 30Direct materials:Direct laborOverhead appliedAdditional Informationa. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $7,600; direct labor,$3,400; and applied overhead, $2,500. Job 5 was finished in June.b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July.c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate didnot change across these months.Job 5$ 18, 20011, 2005,600Job 6$ 34,60017,4008,700Total transferred costJob 7$ 28,60024, 20012,1004. What is the total cost transferred to Finished Goods Inventory in June?

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Description: !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 30Direct materials:Direct laborOverhead appli

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At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. Job 7 $28,600 24,200 12,100 Job 5 $ 18, 200 11, 200 5,600 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, $7,600; direct labor, $3,400; and applied overhead, $2,500. Job 5 was finished in June. D. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. =. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did Job 6 $ 34,600 17,400 8,700

At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. Job 7 $28,600 24,200 12,100 Job 5 $ 18, 200 11, 200 5,600 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, $7,600; direct labor, $3,400; and applied overhead, $2,500. Job 5 was finished in June. D. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. =. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did Job 6 $ 34,600 17,400 8,700

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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