At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs.Job 7$ 28,90024,80012,400At June 30Direct materialsDirect laborOverhead appliedAdditional Informationa. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $7,900; direct labor,$3,700; and applied overhead, $2,800. Job 5 was finished in June.Job 5$ 18,80011,8005,900b. 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.3. What is the predetermined overhead rate?Predetermined overhead rateJob 6$ 34,90018,0009,000%

Name: At the end of June, the job cost sheets at Ace Roofers show the follo
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs.Job 7$ 28,90024,80012,400At June 30Direct materialsDirect laborOverhead appliedAdditional Informationa. Job 5 was started in May, and the follo

Lets understand the basics. Predetermined overhead rate is calculated by the management in order to…

Business

Accounting

At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. Job 5 $ 18,800 11,800 5,900 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, $7,900; direct labor, $3,700; and applied overhead, $2,800. 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 6 $ 34,900 18,000 9,000 Job 7 $ 28,900 24,800 12,400

At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. Job 5 $ 18,800 11,800 5,900 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, $7,900; direct labor, $3,700; and applied overhead, $2,800. 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 6 $ 34,900 18,000 9,000 Job 7 $ 28,900 24,800 12,400

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

During October, Jobs 878, 879, and 880 were started. Data on costs added during October for all jobs are as follows: Direct materials Direct labor Job 877 $14,490 15,600 Job 878 $5,920 8,700 Job 879 $3,480 1,900 Job 880 $1,880 1,900 Overhead is applied to production at the rate of 60% of direct labor cost. Job 877 was completed on October 28, and the client was billed at cost plus 50%. All other jobs remained in process. Required: 1. Prepare a brief job-order cost sheet showing the October 1 balances of all four jobs, plus the direct materials and direct labor costs during October. There is no need to calculate applied overhead at this point or to total the costs. All amount cells must have an entry; enter zeros as needed. Gorman Company Job-Order Cost Sheets For the Month of October Job 877 Beginning balance $18,630 Job 878 Job 879 Job 880
! 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 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. 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 $ 18, 200 11, 200 5,600 Job 6 $ 34,600 17,400 8,700 Total transferred cost Job 7 $ 28,600 24, 200 12,100 4. What is the total cost transferred to Finished Goods Inventory in June?
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 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. Job 5 $ 15,800 8,800 4,400 Direct labor used in June Job 6 $ 33,400 15,000 7,500 Job 7 $ 27,400 21,800 10,900 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 months. 2. What is the total cost of direct labor used in June?
The following partial Job cost sheet is for a job lot of 2,500 units completed. Customer's Name Huddits Company Date March 8 March 11 Direct Materials Requisition #55 #56 Cost $ 44,750 27,750 1. What is the total cost of this job lot? 2. What is the total cost per unit completed? 1. The total cost of this job lot 2. Cost per unit completed JOB COST SHEET per unit Direct Labor Quantity 2,500 Time Ticket Cost #1 to #10 $ 61,000 Job Number 202 Overhead Rate Date March 8 150% of Direct Labor Cost Cost $91,500
Dog
Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information Problem 15-2A (Algo) Part 4 MARCO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Job 306 Total cost of work in process $ 33,800 24,800 14,800 Cost of goods manufactured 147,000 89,800 ? Finished (sold) $ a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for…
! 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 Additional Information Job 5 $ 15,400 8,400 4,200 Job 6 $ 33,200 14,600 7,300 a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $6,200; direct labor, $2,000; and applied overhead, $1,100. Job 5 was finished in June. Direct labor used 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. 2. What is the total cost of direct labor used in June? Job 7 $ 27,200 21,400 10,700 $ 396,000
! 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 Additional Information Job 5 $ 18,200 11, 200 5,600 Job 6 $ 34,600 17,400 8,700 Job 7 $ 28,600 24, 200 12,100 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. Direct materials requisitioned 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. Required 1. What is the total cost of direct materials requisitioned in June?
1. What is the total cost of direct materials requistioned in June? 2. What is the total cost of direct labor used in June? ( please check plagiarism)
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 Additional Information Job 5 $ 18,200 11, 200 5,600 What is the predetermined overhead rate? edetermined overhead rate Job 6 $ 34,600 17,400 8,700 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. Job 7 $ 28,600 24,200 12,100 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. % Check my work
The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture jobs. Job 602 Job 603 Job 604 Direct $1,800 $3,300 $2,700 materials Direct 900 1,480 2,300 labor Overhead 450 740 1,150 Job 602 was started in production in May, and these costs were assigned to it in May: direct materials, $600; direct labor, $250; and overhead, $125. Jobs 603 and 604 were started in June. Overhead cost is applied with a predetermined rate based on direct labor costs. Jobs 602 and 603 are finished in June, and Job 604 is expected to be finished in July. No raw materials are used indirectly in June. (Assume this company's predetermined overhead rate did not change over these months.) Required: 1. What is the cost of the raw materials used in June for each of the three jobs and in total? 2. How much total direct labor cost is incurred in June? 3.…
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 Additional Information Job 5 $ 18,400 11, 400 5,700 Job 6 $ 34,700 17,600 8,800 Job 7 $ 28,700 24,400 12, 200 a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $7,700; direct labor, $3,500; and applied overhead, $2,600. 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. Total transferred cost c. Overhead cost is applied with a predetermined rate based on direct bor cost. The predetermined overhead rate did not change across these months. 4. What is the total cost transferred to Finished Goods Inventory in June?