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Decker Screw Manufacturing Company produces special screws made to customer specifications. During June, the following data pertained to these costs: Department Number 1 2 2 1 1 2 Department Number 1 2 1 2 1 Department Number 1 2 Summary of Direct Materials Requisitions Job Requisition Number Number Quantity 2906 B9766 4,850 2907 B9767 170 2908 B9768 1,120 2906 B9769 4,730 2908 B9770 29 Ticket Number Number Hours 2906 1056-1168 1,114 2907 2121-2130 2908 1169-1189 Summary of Direct Labor Time Tickets Job Cost per 2908 2131-1239 2906 1190-1239 148 163 44 Cost per Unit $ 1.30 22.00 822 9.00 1.31 48.00 Unit $ 6.50 9.00 6.50 9.00 6.50 Summary of Factory Overhead Application Rates Basis of Application Rates $3 per direct labor hour. 150% of direct labor cost Decker had no beginning Work-in-Process Inventory for June. Of the jobs begun in June, Job 2906 was completed and sold on account for $30,000, Job 2907 was completed but not sold, and Job 2908 was still in process.

Decker Screw Manufacturing Company produces special screws made to customer specifications. During June, the following data pertained to these costs: Department Number 1 2 2 1 1 2 Department Number 1 2 1 2 1 Department Number 1 2 Summary of Direct Materials Requisitions Job Requisition Number Number Quantity 2906 B9766 4,850 2907 B9767 170 2908 B9768 1,120 2906 B9769 4,730 2908 B9770 29 Ticket Number Number Hours 2906 1056-1168 1,114 2907 2121-2130 2908 1169-1189 Summary of Direct Labor Time Tickets Job Cost per 2908 2131-1239 2906 1190-1239 148 163 44 Cost per Unit $ 1.30 22.00 822 9.00 1.31 48.00 Unit $ 6.50 9.00 6.50 9.00 6.50 Summary of Factory Overhead Application Rates Basis of Application Rates $3 per direct labor hour. 150% of direct labor cost Decker had no beginning Work-in-Process Inventory for June. Of the jobs begun in June, Job 2906 was completed and sold on account for $30,000, Job 2907 was completed but not sold, and Job 2908 was still in process.

FINANCIAL ACCOUNTING
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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Decker Screw Manufacturing Company produces special screws made to customer specifications. During June, the following data pertained to these costs: Department Number 1 2 1 1 2 Department Number L2LN 1 1 1 Department Number 1 2 Summary of Direct Materials Requisitions Job Requisition Number Number Quantity B9766 4,850 B9767 170 B9768 B9769 B9770 2906 2907 2908 2906 2908 1,120 4,730 29 Cost per Unit $ 1.30 22.00 9.00 1.31 48.00 Summary of Direct Labor Time Tickets Cost per Job Ticket Number Number Hours 2906 1056-1168 1,114 2907 2121-2130 2908 1169-1189 2908 2131-1239 2906 1190-1239 148 163 44 822 Unit $ 6.50 9.00 6.50 9.00 6.50 Summary of Factory Overhead Application Rates Basis of Application Rates $3 per direct labor hour 150% of direct labor cost Decker had no beginning Work-in-Process Inventory for June. Of the jobs begun in June, Job 2906 was completed and sold on account for $30,000, Job 2907 was completed but not sold, and Job 2908 was still in process.
Transcribed Image Text:Decker Screw Manufacturing Company produces special screws made to customer specifications. During June, the following data pertained to these costs: Department Number 1 2 1 1 2 Department Number L2LN 1 1 1 Department Number 1 2 Summary of Direct Materials Requisitions Job Requisition Number Number Quantity B9766 4,850 B9767 170 B9768 B9769 B9770 2906 2907 2908 2906 2908 1,120 4,730 29 Cost per Unit $ 1.30 22.00 9.00 1.31 48.00 Summary of Direct Labor Time Tickets Cost per Job Ticket Number Number Hours 2906 1056-1168 1,114 2907 2121-2130 2908 1169-1189 2908 2131-1239 2906 1190-1239 148 163 44 822 Unit $ 6.50 9.00 6.50 9.00 6.50 Summary of Factory Overhead Application Rates Basis of Application Rates $3 per direct labor hour 150% of direct labor cost Decker had no beginning Work-in-Process Inventory for June. Of the jobs begun in June, Job 2906 was completed and sold on account for $30,000, Job 2907 was completed but not sold, and Job 2908 was still in process.
Required: 1. Calculate the direct materials, direct labor, factory overhead, and total costs for each job started in June. 2. Perform the same calculations as in requirement 1, but assume that the direct labor rate per hour increased by 10% in Department 1 and 25% in Department 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the direct materials, direct labor, factory overhead, and total costs for each job started in June. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Direct materials Direct labor Factory overhead Total job cost $ $ Job 2906 13,956.80 $ 12,688.00 5,856.00 32,500.80 $ Job 2907 4,620.00 $ 1,404.00 2,106.00 8,130.00 $ Job 2908 12,384.00 1,579.50 1,215.00 15,178.50 $ Total 30,960.80 15,671.50 9,177.00 55,809.30
Transcribed Image Text:Required: 1. Calculate the direct materials, direct labor, factory overhead, and total costs for each job started in June. 2. Perform the same calculations as in requirement 1, but assume that the direct labor rate per hour increased by 10% in Department 1 and 25% in Department 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the direct materials, direct labor, factory overhead, and total costs for each job started in June. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Direct materials Direct labor Factory overhead Total job cost $ $ Job 2906 13,956.80 $ 12,688.00 5,856.00 32,500.80 $ Job 2907 4,620.00 $ 1,404.00 2,106.00 8,130.00 $ Job 2908 12,384.00 1,579.50 1,215.00 15,178.50 $ Total 30,960.80 15,671.50 9,177.00 55,809.30
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