Company X uses a job-order costing system. The company applies manufacturing overhead on the basis of direct labor cost. At the end of May, Company X had one job still in process; JOB-123. By the end of May, the job cost sheet information shows that JOB-123 used $480 of direct materials, $200 of direct labor. The manufacturing overhead cost applied to JOB-123 by the end of May was $800. JOB-123 is expected to be completed in June. To be completed, JOB-123 will need additional $100 of direct labor cost. Calculate the total cost of JOB-123 ($) after its completion and transfer to finished goods inventory. O a. 1,380 O b. 1,280 Oc. 1,980 O d. None of the given answers O e. 1,680

Company X uses a job-order costing system. The company applies manufacturing overhead on the basis of direct labor cost. At the end of May, Company X had one job still in process; JOB-123. By the end of May, the job cost sheet information shows that JOB-123 used $480 of direct materials, $200 of direct labor. The manufacturing overhead cost applied to JOB-123 by the end of May was $800. JOB-123 is expected to be completed in June. To be completed, JOB-123 will need additional $100 of direct labor cost. Calculate the total cost of JOB-123 ($) after its completion and transfer to finished goods inventory. O a. 1,380 O b. 1,280 Oc. 1,980 O d. None of the given answers O e. 1,680

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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