12EB12. 4.7 A company has the following transactions during the week. • Purchase of $3,000 raw materials inventory • Assignment of $700 of raw materials inventory to Job 7 • Payroll for 10 hours and $3,000 is assigned to Job 7 • Factory depreciation of $1,750 • Overhead applied at the rate of $200 per hour What is the cost assigned to Job 7 at the end of the week?

In job order costing the cost that is to be assign to a specific order is sum of actual direct…

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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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12	EB12. 4.7 A company has the following transactions during the week.
	• Purchase of $3,000 raw materials inventory
	• Assignment of $700 of raw materials inventory to Job 7
	• Payroll for 10 hours and $3,000 is assigned to Job 7
	• Factory depreciation of $1,750
	• Overhead applied at the rate of $200 per hour What is the cost assigned to Job 7 at the end of the week?

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