On May 21, 2019, Christine worked 7 hours on Job A-1, and 3 hours on general "overhead activities." Christine is paid $18 per hour. Overhead is applied based on $20 per direct labor hour. Additionally, on May 21 Job A-1 requisitioned and entered into production $280 of direct material. On May 21, Christine, while working on Job A-1 used $27 of indirect material. Indirect material is included in the overhead application rate. Use this information to determine the total cost that should have been recorded in the Work in Process for Job A-1 on May 21.
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- Cullumber Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $25.000. direct labor $15,000, and manufacturing overhead $20,000. As of January 1, Job 49 had been completed at a cost of $112.500 and was part of finished goods inventory. There was a $18.750 balance in the Raw Materials Inventory account. During the month of January, Cullumber Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $152,500 and $197.500, respectively. The following additional events occurred during the month. 1 Purchased additional raw materials of $112.500 on account. incurred factory labor costs of $87.500. Of this amount $20,000 related to employer payroll taxes. Incurred manufacturing overhead costs as follows: indirect materials…During 2019, Sheridan Company expected Job no. 59 to cost $200000 of overhead, $500000 of materials, and $100000 in labor. Sheridan applied overhead based on direct labor cost. Actual production required an overhead cost of $195000, $660000 in materials used, and $310000 in labor. All of the goods were completed. How much is the amount of over- or underapplied overhead? $5000 overapplied $5000 underapplied $425000 overapplied $425000 underappliedSigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $5,100 for direct materials, $10,000 for direct labor, and $7,400 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $2,800 for direct materials and $5,200 for direct labor. Required: 1a. Should any overhead cost be applied to Job W at year-end? 1b. How much overhead cost should be applied to Job W? 2. How will the costs included in Job W's job cost sheet be reported within Sigma Corporation's financial statements at the end of the year? Complete this question by entering your answers in the tabs below. Required la Required 1b Required 2 Should any overhead cost be applied to Job W at year-end? Should any overhead cost be applied to Job Wat year-end?
- Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was startedand completed during the current period, shows charges of $5,000 for direct materials, $8,000 for directlabor, and $6,000 for overhead on its job cost sheet. Job W, which is still in process at year-end, showscharges of $2,500 for direct materials and $4,000 for direct labor.Required:Should any overhead cost be added to Job W at year-end? If so, how much? Explain.Ryzen Company uses a job costing system. The WIP inventory on December 31, 2019 consisted of Job No. 175 with a balance of $53,400. Job No. 175 has been charged with manufacturing overhead of $16,000. Ryzen allocates manufacturing overhead at a rate of 80% of direct labour cost. The amount of direct materials charged to Job No. 175 was;Sunland Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2025, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $18,800, direct labor $11,280, and manufacturing overhead $15,040. As of January 1, Job 49 had been completed at a cost of $84,600 and was part of finished goods inventory. There was a $14,100 balance in the Raw Materials Inventory account on January 1. During the month of January, Sunland Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were sold on account during the month for $114,680 and $148,520, respectively. The following additional events occurred during the month. 1. 2. 3. 4. 5. Purchased additional raw materials of $84,600 on account. Incurred factory labor costs of $65,800. Incurred manufacturing overhead costs as follows: depreciation expense on equipment $11,280; and various other…
- Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $5,000 for direct materials, $8,300 for direct labor, and $5,810 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $3,200 for direct materials and $5,600 for direct labor. Required: 1a. Should any overhead cost be applied to to Job W at year-end? 1b. How much overhead cost should be applied to Job W? 2. How will the costs included in Job W’s job cost sheet be reported within Sigma Corporation’s financial statements at the end of the year?Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $6,900 for direct materials, $8,100 for direct labor, and $4,617 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $2,900 for direct materials and $4,000 for direct labor. Required: 1a. Should any overhead cost be applied to Job W at year-end? 1b. How much overhead cost should be applied to Job W? 2. How will the costs included in Job W's job cost sheet be reported within Sigma Corporation's financial statements at the end of the year? Answer is not complete. Complete this question by entering your answers in the tabs below. Required lb Should any overhead cost be applied to Job W at year-end? Should any overhead cost be applied to Job Wat year-end?Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $5,900 for direct materials, $8,600 for direct labor, and $5,332 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $3,500 for direct materials and $5,200 for direct labor. Required: 1a. Should any overhead cost be applied to Job W at year-end? O Yes O No 1b. How much overhead cost should be applied to Job W? Overhead cost 2. How will the costs included in Job W's job cost sheet be reported within Sigma Corporation's financial statements at the end of the year? O Raw Materials Work-in-Process O Finished Goods
- Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $20,000, direct labor $12,000, and manufacturing overhead $16,000. As of January 1, Job 49 had been completed at a cost of $90,000 and was part of finished goods inventory. There was a $15,000 balance in the Raw Materials Inventory account.During the month of January, Lott Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $122,000 and $158,000, respectively. The following additional events occurred during the month. 1. Purchased additional raw materials of $90,000 on account. 2. Incurred factory labor costs of $70,000. Of this amount $16,000 related to employer payroll taxes. 3. Incurred manufacturing overhead costs as follows: indirect…Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $22,400, direct labor $13,440, and manufacturing overhead $17,920. As of January 1, Job 49 had been completed at a cost of $100,800 and was part of finished goods inventory. There was a $16,800 balance in the Raw Materials Inventory account.During the month of January, Lott Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $136,640 and $176,960, respectively. The following additional events occurred during the month. 1. Purchased additional raw materials of $100,800 on account. 2. Incurred factory labor costs of $78,400. Of this amount $17,920 related to employer payroll taxes. 3. Incurred manufacturing overhead costs as follows: indirect…Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $22,400, direct labor $13,440, and manufacturing overhead $17,920. As of January 1, Job 49 had been completed at a cost of $100,800 and was part of finished goods inventory. There was a $16,800 balance in the Raw Materials Inventory account.During the month of January, Lott Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $136,640 and $176,960, respectively. The following additional events occurred during the month. 1. Purchased additional raw materials of $100,800 on account. 2. Incurred factory labor costs of $78,400. Of this amount $17,920 related to employer payroll taxes. 3. Incurred manufacturing overhead costs as follows: indirect…