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Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used i Direct labor used Overhead applied Status on April 30 March Direct materials Direct labor Overhead applied Work in process, beginning Apri Direct materials Direct labor Overhead applied Costs added in April Total costs d. Predetermined overhead rate is 50% of direct labor cost e. Job 306 is sold for $644,000 cash in April $ Additional Information a Raw Materials Inventory has a March 31 balance of $83,600, b. Raw materials purchases in April are $509,000, and total factory payroll cost in April is $372,000 c. Actual overhead costs incurred in April are indirect materials, $52,250, indirect labor, $25,250, factory rent, $34,250, factory utilities, $21,250, and factory equipment depreciation, $53,250 Job 306 Job 306 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31) 32.600 23,600 13,600 $ 32,600 23,600 13,600 144,000 88,600 144,000 80,600 > Finished (sold) 232,600 Job 307 $38,600 21,600 12,600 229,000 159,000 7 Finished (unsold) $ Job 307 30,600 21,600 12,600 Job 300 229,000 159.000 $ 109,000 114,000 In process 308,000 Job 305 109,000 114.000 223.000 April Total S 0 482.000 361,600 0 843,600 0 3

Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used i Direct labor used Overhead applied Status on April 30 March Direct materials Direct labor Overhead applied Work in process, beginning Apri Direct materials Direct labor Overhead applied Costs added in April Total costs d. Predetermined overhead rate is 50% of direct labor cost e. Job 306 is sold for $644,000 cash in April $ Additional Information a Raw Materials Inventory has a March 31 balance of $83,600, b. Raw materials purchases in April are $509,000, and total factory payroll cost in April is $372,000 c. Actual overhead costs incurred in April are indirect materials, $52,250, indirect labor, $25,250, factory rent, $34,250, factory utilities, $21,250, and factory equipment depreciation, $53,250 Job 306 Job 306 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31) 32.600 23,600 13,600 $ 32,600 23,600 13,600 144,000 88,600 144,000 80,600 > Finished (sold) 232,600 Job 307 $38,600 21,600 12,600 229,000 159,000 7 Finished (unsold) $ Job 307 30,600 21,600 12,600 Job 300 229,000 159.000 $ 109,000 114,000 In process 308,000 Job 305 109,000 114.000 223.000 April Total S 0 482.000 361,600 0 843,600 0 3

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 8SPA: JOURNAL ENTRIES FOR MATERIAL, LABOR, AND OVERHEAD Eto Manufacturing had the following transactions...
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ces Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 March Direct materials Direct labor Overhead applied Work in process, beginning April d. Predetermined overhead rate is 50% of direct labor cost e Job 306 is sold for $644,000 cash in April Direct materials Direct labor Overhead applied Costs added in April Total costs $ Job 306 Job 306 $ 32,600 23,600 13,600 Additional Information a. Raw Materials Inventory has a March 31 balance of $83,600 b. Raw materials purchases in April are $509,000, and total factory payroll cost in April is $372,000. c. Actual overhead costs incurred in April are indirect materials, $52,250, indirect labor, $25,250, factory rent $34,250, factory utilities, $21,250, and factory equipment depreciation, $53,250. 32,600 23,600 13,600 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31) 144,000 88,600 144,000 88,600 Finished (sold) 232.600 $ S Job 307 $38,600 21,600 12,600 229,000 159,000 2 Finished (unsold) Job 307 38,600 21,600 12,600 Job 300 229,000 159.000 $ 109,000 114,000 388,000 In process Job 308 109,000 114,000 223.000 April Total S S 0 402,000 361,600 0 843,600 0
Transcribed Image Text:ces Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 March Direct materials Direct labor Overhead applied Work in process, beginning April d. Predetermined overhead rate is 50% of direct labor cost e Job 306 is sold for $644,000 cash in April Direct materials Direct labor Overhead applied Costs added in April Total costs $ Job 306 Job 306 $ 32,600 23,600 13,600 Additional Information a. Raw Materials Inventory has a March 31 balance of $83,600 b. Raw materials purchases in April are $509,000, and total factory payroll cost in April is $372,000. c. Actual overhead costs incurred in April are indirect materials, $52,250, indirect labor, $25,250, factory rent $34,250, factory utilities, $21,250, and factory equipment depreciation, $53,250. 32,600 23,600 13,600 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31) 144,000 88,600 144,000 88,600 Finished (sold) 232.600 $ S Job 307 $38,600 21,600 12,600 229,000 159,000 2 Finished (unsold) Job 307 38,600 21,600 12,600 Job 300 229,000 159.000 $ 109,000 114,000 388,000 In process Job 308 109,000 114,000 223.000 April Total S S 0 402,000 361,600 0 843,600 0
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