The computer workstation furniture manufacturing that Santana Rey started is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture jobs. ok Direct materials Direct labor Overhead applied Job 602 $ 1,500 800 400 Job 603 $ 3,600 1,520 760 Job 604 $ 2,700 2,200 1,100 Job 602 was started in May, and the following costs were assigned to it in May: direct materials, $700; direct labor, $250, and overhead, $125. Jobs 603 and 604 were started in June. Overhead cost is applied with a predetermined rate as a percent of direct labor costs. Jobs 602 and 603 are finished in June, and Job 604 is expected to be finished in July. The company's predetermined overhead rate did not change over these months. Required: 1. What is the cost of direct materials used in June for each of the three jobs and in total? 2. What is the cost of direct labor used in June for each of the three jobs and in total? 3. What predetermined overhead rate is used in June? 4. How much cost is transferred to finished goods Inventory in June? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 What is the cost of direct materials used in June for each of the three jobs and in total? Job 602 May costs S 800 Job 603 $3,600 Job 604 Total $ 2,700 $ 7,100 June costs Total Required 2 >
The computer workstation furniture manufacturing that Santana Rey started is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture jobs. ok Direct materials Direct labor Overhead applied Job 602 $ 1,500 800 400 Job 603 $ 3,600 1,520 760 Job 604 $ 2,700 2,200 1,100 Job 602 was started in May, and the following costs were assigned to it in May: direct materials, $700; direct labor, $250, and overhead, $125. Jobs 603 and 604 were started in June. Overhead cost is applied with a predetermined rate as a percent of direct labor costs. Jobs 602 and 603 are finished in June, and Job 604 is expected to be finished in July. The company's predetermined overhead rate did not change over these months. Required: 1. What is the cost of direct materials used in June for each of the three jobs and in total? 2. What is the cost of direct labor used in June for each of the three jobs and in total? 3. What predetermined overhead rate is used in June? 4. How much cost is transferred to finished goods Inventory in June? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 What is the cost of direct materials used in June for each of the three jobs and in total? Job 602 May costs S 800 Job 603 $3,600 Job 604 Total $ 2,700 $ 7,100 June costs Total Required 2 >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The computer workstation furniture manufacturing that Santana Rey started is progressing well. As of the end of June, Business
Solutions's job cost sheets show the following total costs accumulated on three furniture jobs.
ok
Direct materials
Direct labor
Overhead applied
Job 602
$ 1,500
800
400
Job 603
$ 3,600
1,520
760
Job 604
$ 2,700
2,200
1,100
Job 602 was started in May, and the following costs were assigned to it in May: direct materials, $700; direct labor, $250, and
overhead, $125. Jobs 603 and 604 were started in June. Overhead cost is applied with a predetermined rate as a percent of direct
labor costs. Jobs 602 and 603 are finished in June, and Job 604 is expected to be finished in July. The company's predetermined
overhead rate did not change over these months.
Required:
1. What is the cost of direct materials used in June for each of the three jobs and in total?
2. What is the cost of direct labor used in June for each of the three jobs and in total?
3. What predetermined overhead rate is used in June?
4. How much cost is transferred to finished goods Inventory in June?
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Required 3
Required 4
What is the cost of direct materials used in June for each of the three jobs and in total?
Job 602
May costs
S
800
Job 603
$3,600
Job 604
Total
$
2,700 $
7,100
June costs
Total
Required 2 >
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