Job Number 102 Materials Labor Overhead $ 42,000 16,000 6,880 Job Number 103 Materials Labor Overhead $ 66,000 28,800 12,384 Job Number 104 Materials Labor Overhead $ 46,000 42,000 18,060 All jobs were started in June. Overhead is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were finished in June, and Job 104 will be finished in July. 1. What was the total cost of direct materials requisitioned in June? 2. How much total direct labor cost was incurred in June? 3. How much total cost is transferred to Finished Goods Inventory in June?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Following are simplified job cost sheets for three custom jobs at the end of June for Custom Patios.
Job Number 102
Materials
$ 42,000
Labor
16,000
6,880
Overhead
Job Number 103
Materials
$ 66,000
Labor
28,800
12,384
Overhead
Job Number 104
Materials
$ 46,000
Labor
42,000
18,060
Overhead
All jobs were started in June. Overhead is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were
finished in June, and Job 104 will be finished in July.
1. What was the total cost of direct materials requisitioned in June?
2. How much total direct labor cost was incurred in June?
3. How much total cost is transferred to Finished Goods Inventory in June?
Transcribed Image Text:Following are simplified job cost sheets for three custom jobs at the end of June for Custom Patios. Job Number 102 Materials $ 42,000 Labor 16,000 6,880 Overhead Job Number 103 Materials $ 66,000 Labor 28,800 12,384 Overhead Job Number 104 Materials $ 46,000 Labor 42,000 18,060 Overhead All jobs were started in June. Overhead is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were finished in June, and Job 104 will be finished in July. 1. What was the total cost of direct materials requisitioned in June? 2. How much total direct labor cost was incurred in June? 3. How much total cost is transferred to Finished Goods Inventory in June?
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