### Job Costing Analysis for Job 9-1005The following information is from the materials requisitions and time tickets for Job 9-1005, completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job.#### Materials Requisitions and Time TicketsBelow is a table listing the materials requisitions and time tickets, along with their respective amounts:| Date | Document | Amount ||------|----------|--------|| 7/1 | Q-4698 | $1,250 || 7/1 | W-3393 | $600 || 7/5 | Q-4725 | $1,000 || 7/5 | W-3459 | $456 || 7/10 | W-3559 | $300 |#### Job Cost Sheet for Job 9-1005To determine the total cost on the job cost sheet, the following details are to be filled out in the job cost sheet:| Date | Direct Materials | Direct Labor | | Overhead Costs Applied | Total Cost ||-------|------------------|--------------|--------|------------------------|------------|| | Requisition No. | Amount | Time-Ticket No. | Amount | | ||-------|-------------------|-------------|-------------------|------------|---------|-----------|| 07/01 | | | | | | || 07/05 | | | | | | || 07/10 | | | | | | |#### Detailed Breakdown1. **Direct Materials and Direct Labor:** - For each date, list down the requisition number and corresponding amount from the 'Materials Requisitions and Time Tickets' table. - Similarly, list the time-ticket number and corresponding amount from the same table.2. **Overhead Costs Applied:** - Overhead costs are calculated as 110% of the direct labor costs. - For each date, calculate the overhead by multiplying the direct labor cost by 1.10.3. **Total Cost:** - Add the direct materials

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Description: ### Job Costing Analysis for Job 9-1005The following information is from the materials requisitions and time tickets for Job 9-1005, completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the ti

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The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. Date Document Amount Q-4698 $1,250 7/1 7/1 W-3393 600 7/5 Q-4725 1,000 7/5 W-3479 450 7/10 W-3559 300 Determine the total cost on the job cost sheet for Job 9-1005. JOB COST SHEET: Job 9-1005 Direct Materials Direct Labor Total Cost Date Requisition No. Amount Time-Ticket No. 07/01 07/05 07/10 Amount Overhead Costs Applied

The following information is from the materials requisitions and time tickets for Job 9-1005 completed by Great Bay Boats. The requisitions are identified by code numbers starting with the letter Q, and the time tickets start with W. At the start of the year, management estimated that overhead cost would equal 110% of direct labor cost for each job. Date Document Amount Q-4698 $1,250 7/1 7/1 W-3393 600 7/5 Q-4725 1,000 7/5 W-3479 450 7/10 W-3559 300 Determine the total cost on the job cost sheet for Job 9-1005. JOB COST SHEET: Job 9-1005 Direct Materials Direct Labor Total Cost Date Requisition No. Amount Time-Ticket No. 07/01 07/05 07/10 Amount Overhead Costs Applied

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Kelley Company shows the following costs for three jobs worked on in April Balances on March 31 Direct materials (in March) Direct labor (in March) Applied overhead (March) Costs during April Direct materials Direct labor Applied overhead Status on April 30 Additional Information Job 306 Job 387 Job 308 $31,000 22,080 11,000 $ 38,000 19,000 9,508 137,000 80,000 7 223,000 155,000 $ 101,000 105,000 7 Finished Finished (sold) (unsold) In process a. Raw Materials Inventory has a March 31 balance of $85,000. b. Raw materials purchases in April are $502,000, and total factory payroll cost in April is $374,000. c. Actual overhead costs incurred in April are Indirect materials, $51,000; Indirect labor. $24,000; factory rent, $33,000; factory utilities. $20,000; and factory equipment depreciation. $53,000. d. Predetermined overhead rate is 50% of direct labor cost e. Job 306 is sold for $610,000 cash in April. Complete this question by entering your answers in the tabs below. Requirement…
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Jupiter Manufacturing began business on January 1. During its first year of operation, Jupiter worked on five industrial jobs and reported the following information at year-end: Direct Materials Direct Labor Allocated Mfg. Overhead Job completed Job sold Jul 10 Revenues $25,000 What was the balance in Work-in-Process OA. $2,400 OB. $1,100 OC. $2,800 OD. $2,100 Job 1 $1,000 12,000 1,500 Click to select your answer Jun 30 Job 2 $7,500 20,000 6,000 Job 3 $4,000 13,000 2,500 Sep 1 Sep 12 $39,000 Inventory at year-end? Oct 15 Not sold N/A Job 4 $3,500 12,000 7,500 Job 5 $1,700 Not sold N/A 700 400 Not Nov 1 completed N/A N/A
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