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Pigot Corporation uses job costing and has two production departments, M and A. Budgeted manufacturing costs for the year are as follows: Direct materials Direct labor Factory overhead Direct material Direct labor: Dept. M Department M Department A Dept. A $ 703,000 203,000 609,000 The actual direct material and direct labor costs charged to Job. No. 432 during the year were as follows: $ 11,000 $ 103,000 15,000 806,000 403,000 $ 28,000 26,000 Pigot applies manufacturing overhead to production orders on the basis of direct labor cost using departmental rates predetermined at the beginning of the year based on the annual budget. The total cost associated with Job. No. 432 for the year should be: a. $66,500. b. $68,500. c. $80,000. d. $94,500.

Pigot Corporation uses job costing and has two production departments, M and A. Budgeted manufacturing costs for the year are as follows: Direct materials Direct labor Factory overhead Direct material Direct labor: Dept. M Department M Department A Dept. A $ 703,000 203,000 609,000 The actual direct material and direct labor costs charged to Job. No. 432 during the year were as follows: $ 11,000 $ 103,000 15,000 806,000 403,000 $ 28,000 26,000 Pigot applies manufacturing overhead to production orders on the basis of direct labor cost using departmental rates predetermined at the beginning of the year based on the annual budget. The total cost associated with Job. No. 432 for the year should be: a. $66,500. b. $68,500. c. $80,000. d. $94,500.

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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Pigot Corporation uses job costing and has two production departments, M and A. Budgeted manufacturing costs for the year are as follows: Direct materials Direct labor Factory overhead Direct material Dept. M Direct labor: Dept. A $ 703,000 203,000 609,000 $ 103,000 The actual direct material and direct labor costs charged to Job. No. 432 during the year were as follows: Department M $ 11,000 Department A 15,000 806,000 403,000 $ 28,000 26,000 Pigot applies manufacturing overhead to production orders on the basis of direct labor cost using departmental rates predetermined at the beginning of the year based on the annual budget. The total cost associated with Job. No. 432 for the year should be: a. $66,500. b. $68,500. c. $80,000. d. $94,500.
Transcribed Image Text:Pigot Corporation uses job costing and has two production departments, M and A. Budgeted manufacturing costs for the year are as follows: Direct materials Direct labor Factory overhead Direct material Dept. M Direct labor: Dept. A $ 703,000 203,000 609,000 $ 103,000 The actual direct material and direct labor costs charged to Job. No. 432 during the year were as follows: Department M $ 11,000 Department A 15,000 806,000 403,000 $ 28,000 26,000 Pigot applies manufacturing overhead to production orders on the basis of direct labor cost using departmental rates predetermined at the beginning of the year based on the annual budget. The total cost associated with Job. No. 432 for the year should be: a. $66,500. b. $68,500. c. $80,000. d. $94,500.
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