! Required information [The following information applies to the questions displayed below.] At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. At June 30 Direct materials Direct labor Overhead applied Additional Information Job 5 $ 18,000 11,000 5,500 Job 6 $ 34,500 17,200 8,600 Job 7 $ 28,500 24,000 12,000 a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $7,500; direct labor, $3,300; and applied overhead, $2,400. Job 5 was finished in June. Direct materials requisitioned in June b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months. Required: 1. What is the total cost of direct materials requisitioned in June?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Required information
[The following information applies to the questions displayed below.]
At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs.
Job 7
$ 28,500
24,000
12,000
At June 30
Direct materials.
Direct labor
Overhead applied
Additional Information
Job 5
$ 18,000
11,000
5,500
Job 6
$ 34,500
17,200
8,600
a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $7,500; direct labor,
$3,300; and applied overhead, $2,400. Job 5 was finished in June.
b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July.
c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate
did not change across these months.
Direct materials requisitioned in June
Required:
1. What is the total cost of direct materials requisitioned in June?
Transcribed Image Text:! Required information [The following information applies to the questions displayed below.] At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. Job 7 $ 28,500 24,000 12,000 At June 30 Direct materials. Direct labor Overhead applied Additional Information Job 5 $ 18,000 11,000 5,500 Job 6 $ 34,500 17,200 8,600 a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $7,500; direct labor, $3,300; and applied overhead, $2,400. Job 5 was finished in June. b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months. Direct materials requisitioned in June Required: 1. What is the total cost of direct materials requisitioned in June?
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