Question

Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was started during April, but not completed. The job cost sheets revealed the following costs for April:


Required:
If no other jobs were started, completed, or sold, determine the balance in each of the following accounts at the end of April:
a. Work in Process
b. Finished Goods
c. Cost of GoodsSold


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  • CreatedFebruary 27, 2015
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