FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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! Required information [The following information applies to the questions displayed below.] At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. Job 7 $ 28,000 23,000 11,500 At June 30 Direct materials Direct labor Overhead applied Additional Information Job 5 $ 17,000 10,000 5,000 Job 6 $ 34,000 16, 200 8,100 a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $7,000; direct labor, $2,800; and applied overhead, $1,900. Job 5 was finished in June. Direct labor used in June b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months. 2. What is the total cost of direct labor used in June?
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Transcribed Image Text:! Required information [The following information applies to the questions displayed below.] At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. Job 7 $ 28,000 23,000 11,500 At June 30 Direct materials Direct labor Overhead applied Additional Information Job 5 $ 17,000 10,000 5,000 Job 6 $ 34,000 16, 200 8,100 a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $7,000; direct labor, $2,800; and applied overhead, $1,900. Job 5 was finished in June. Direct labor used in June b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months. 2. What is the total cost of direct labor used in June?
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