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%

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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

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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 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

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