Julian Company is a job-order costing firm that uses a plantwide overhead rate based on direct labor
Question:
Julian Company is a job-order costing firm that uses a plantwide overhead rate based on direct labor hours. Estimated information for the year is as follows:
Overhead ......$665,000
Direct labor hours ....100,000
Julian worked on five jobs in July. Data are as follows:
By July 31, Jobs 210 and 212 were completed and sold. The remaining jobs were in process.
Required:
1. Calculate the plantwide overhead rate for Julian Company.
2. Prepare job-order cost sheets for each job showing all costs through July 31.
3. Calculate the balance inWork in Process on July 31.
4. Calculate Cost of Goods Sold forJuly.
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Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-0324660135
3rd Edition
Authors: Mowen, Hansen, Heitger
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