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Metro Tee Ltd. uses a job order costing system for producing personalized T-shirts. In November, the company incurred $18,500 in direct materials and $7,900 in direct labor costs to complete Job TRX5. MetroTee also paid $2,800 for advertising and $600 for a holiday party, which were unrelated to production. The job required 980 machine hours, and the overhead was applied at a rate of $32 per machine hour. If the job produced 9,200 T-shirts, what is the cost of goods sold per shirt? What is the correct cost of goods sold per shirt for Job TRX5? Zephyr Custom Wear uses a job order costing system to produce customized T-shirts. In August, the company incurred $14,600 in direct materials and $6,800 in direct labor to complete Job PSQ7. They also incurred a $2,500 charge for electricity and $900 for janitorial supplies, which are not included in the production process. The job required 720 machine hours, and the overhead was applied at a rate of $35 per machine hour. Job PSQ7 produced 8,100 shirts. What is the cost of goods sold per shirt? What is the correct cost of goods sold per shirt for Job PSQ7?

Metro Tee Ltd. uses a job order costing system for producing personalized T-shirts. In November, the company incurred $18,500 in direct materials and $7,900 in direct labor costs to complete Job TRX5. MetroTee also paid $2,800 for advertising and $600 for a holiday party, which were unrelated to production. The job required 980 machine hours, and the overhead was applied at a rate of $32 per machine hour. If the job produced 9,200 T-shirts, what is the cost of goods sold per shirt? What is the correct cost of goods sold per shirt for Job TRX5? Zephyr Custom Wear uses a job order costing system to produce customized T-shirts. In August, the company incurred $14,600 in direct materials and $6,800 in direct labor to complete Job PSQ7. They also incurred a $2,500 charge for electricity and $900 for janitorial supplies, which are not included in the production process. The job required 720 machine hours, and the overhead was applied at a rate of $35 per machine hour. Job PSQ7 produced 8,100 shirts. What is the cost of goods sold per shirt? What is the correct cost of goods sold per shirt for Job PSQ7?

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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Metro Tee Ltd. uses a job order costing system for producing personalized T-shirts. In November, the company incurred $18,500 in direct materials and $7,900 in direct labor costs to complete Job TRX5. MetroTee also paid $2,800 for advertising and $600 for a holiday party, which were unrelated to production. The job required 980 machine hours, and the overhead was applied at a rate of $32 per machine hour. If the job produced 9,200 T-shirts, what is the cost of goods sold per shirt? What is the correct cost of goods sold per shirt for Job TRX5? Zephyr Custom Wear uses a job order costing system to produce customized T-shirts. In August, the company incurred $14,600 in direct materials and $6,800 in direct labor to complete Job PSQ7. They also incurred a $2,500 charge for electricity and $900 for janitorial supplies, which are not included in the production process. The job required 720 machine hours, and the overhead was applied at a rate of $35 per machine hour. Job PSQ7 produced 8,100 shirts. What is the cost of goods sold per shirt? What is the correct cost of goods sold per shirt for Job PSQ7?
Transcribed Image Text:Metro Tee Ltd. uses a job order costing system for producing personalized T-shirts. In November, the company incurred $18,500 in direct materials and $7,900 in direct labor costs to complete Job TRX5. MetroTee also paid $2,800 for advertising and $600 for a holiday party, which were unrelated to production. The job required 980 machine hours, and the overhead was applied at a rate of $32 per machine hour. If the job produced 9,200 T-shirts, what is the cost of goods sold per shirt? What is the correct cost of goods sold per shirt for Job TRX5? Zephyr Custom Wear uses a job order costing system to produce customized T-shirts. In August, the company incurred $14,600 in direct materials and $6,800 in direct labor to complete Job PSQ7. They also incurred a $2,500 charge for electricity and $900 for janitorial supplies, which are not included in the production process. The job required 720 machine hours, and the overhead was applied at a rate of $35 per machine hour. Job PSQ7 produced 8,100 shirts. What is the cost of goods sold per shirt? What is the correct cost of goods sold per shirt for Job PSQ7?
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