Hi! Can you help me with this? Our topic is about Accounting for Merchandising business. Thank you! Laguna Manufacturing Corporation uses the job order cost system of accounting. Shown belowis a list of the jobs completed during the month of December showing the actual charges formaterials, labor and factory overhead costs.Job OrderMaterialsLaborOtherUnitsDirectIndirectIndirect Production Costs CompletedDirect1118,000.003,000.003,800.005,200.00160.004,000.001,880.002,000.00800.005,000.002,400.002,520.003,550.001012160.00370.001013185.00400.0010141110.002,800.00560.0010Required: 1. Ascumina thne fna.The amour of overhead to heb.•nl cost of enah :adunina oll the nd. TT..2. Assuming that Laguna Manufacturing Corporation is using actual cost system,compute the following:a. The amount of overhead to be added to the cost of each job completed.b. The total cost of each job completed during the month.The total cost of producing all the jobs finished during the month.d. Unit cost of jobs completed.С.

Step 1 Under actual cost system, Cost is allocated to each job on the basis of actual cost incurred…

a. The amount of overhead to be added to the cost of each job completed. b. The total cost of each job completed during the month. c. The total cost of producing all the jobs finished during the month. d. Unit cost of jobs completed.

a. The amount of overhead to be added to the cost of each job completed. b. The total cost of each job completed during the month. c. The total cost of producing all the jobs finished during the month. d. Unit cost of jobs completed.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Hi! Can you help me with this? Our topic is about Accounting for Merchandising business. Thank you!

Laguna Manufacturing Corporation uses the job order cost system of accounting. Shown below
is a list of the jobs completed during the month of December showing the actual charges for
materials, labor and factory overhead costs.
Job Order
Materials
Labor
Other
Units
Direct
Indirect
Indirect Production Costs Completed
Direct
111
8,000.00
3,000.00
3,800.00
5,200.00
160.00
4,000.00
1,880.00
2,000.00
800.00
5,000.00
2,400.00
2,520.00
3,550.00
10
121
60.00
370.00
10
131
85.00
400.00
10
141
110.00
2,800.00
560.00
10
Required: 1. Ascumina thne fn
a.
The amour of overhead to he
b.
•nl cost of enah :
adunina oll the n
d. TT..
2. Assuming that Laguna Manufacturing Corporation is using actual cost system,
compute the following:
a. The amount of overhead to be added to the cost of each job completed.
b. The total cost of each job completed during the month.
The total cost of producing all the jobs finished during the month.
d. Unit cost of jobs completed.
С.

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