The Sims Company uses a job-cost system. The following information was recorded for April. Job April 1 Work-in-Process Direct No. Inventory 1 $2,500 2 $1,500 3 $1,000 4 $800 Added during April Direct Manuf. Materials Labor $600 $400 $800 $1,000 $1,200 $1,750 $1,500 $2,250 Manufacturing overhead is allocated to jobs at the rate of 80% of direct materials cost. Jobs 1, 3, and 4 were completed during April and transferred to finished goods. Jobs 1 and 4 have been delivered to customers. The work-in-process inventory balance at April 30 is equal to: a. $4,910 b. $3,940 c. $3,300 d. $2,440
The Sims Company uses a job-cost system. The following information was recorded for April. Job April 1 Work-in-Process Direct No. Inventory 1 $2,500 2 $1,500 3 $1,000 4 $800 Added during April Direct Manuf. Materials Labor $600 $400 $800 $1,000 $1,200 $1,750 $1,500 $2,250 Manufacturing overhead is allocated to jobs at the rate of 80% of direct materials cost. Jobs 1, 3, and 4 were completed during April and transferred to finished goods. Jobs 1 and 4 have been delivered to customers. The work-in-process inventory balance at April 30 is equal to: a. $4,910 b. $3,940 c. $3,300 d. $2,440
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter1: Introduction To Cost Accounting
Section: Chapter Questions
Problem 12E: Gerken Fabrication Inc. uses the job order cost system of accounting. The following information was...
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