Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation used $3,500 of direct materials and used $5,000 of direct labor. The job was not finished in September. An additional $4,000 of direct materials and $8,500 of direct labor were needed to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. What is the balance in the Work in Process account at the end of September relative to Job A3B?

Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation used $3,500 of direct materials and used $5,000 of direct labor. The job was not finished in September. An additional $4,000 of direct materials and $8,500 of direct labor were needed to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. What is the balance in the Work in Process account at the end of September relative to Job A3B?

Name: Job A3B was ordered by a customer on September 25. During the month o
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Description: Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation used $3,500 ofdirect materials and used $5,000 of direct labor. The job was not finished in September. An additional $4,000 of direct materialsand $

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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Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation used $3,000 of direct materials and used $4,500 of direct labor. The job was not finished in September. An additional $3,500 of direct materials and $7,000 of direct labor were needed to finish the job in October. The company applies overhead at the end of each month at a rate of 100% of the direct labor cost incurred. What is the total cost of the job when it is completed in October?
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