XYZ Co. applies overhead for Job #123 at 140 percent of direct labor cost and at 150 percent of direct labor cost for Jobs #125 and #201. The total cost of Jobs #123 and #125 is identical.   Assume that Jobs #123 and #201 are incomplete at the end of September. What is the balance in Work in Process Inventory at that time?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following information pertains to XYZ Co. for September 2001.

                Direct Material    Direct Labor     Overhead

Job #123      $ 3,200              $ 4,500                ?

Job #125         ?                     5,000                    ?

Job #201       5,670                   ?                  $ 5,550

XYZ Co. applies overhead for Job #123 at 140 percent of direct labor cost and at 150 percent of direct labor cost for Jobs #125 and #201. The total cost of Jobs #123 and #125 is identical.

 

Assume that Jobs #123 and #201 are incomplete at the end of September. What is the balance in Work in Process Inventory at that time?

 

 

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