Bernard, Co. builds film sets for Big Dog Productions. At the end of last month, the company
Question:
Bernard, Co. builds film sets for Big Dog Productions. At the end of last month, the company switched to a new costing software system, but a glitch occurred with the job order costing system. The project general manager, Sampson, has come to you for help answering the following questions: What was the total amount of direct materials used during the month? (1 point) What was the overhead application rate? (1 point) Which jobs were finished? (1 point) Which jobs were sold? (1 point) What job(s) was/were still in process at the end of the month? (1 point) What was the actual overhead for the month? (1 point) Was overhead under or overapplied? By how much? (2 points) Wile wants to know the average cost of the jobs during the month? Why is there such a difference between the average cost of each job and the actual cost of each job?
Materials | Job P12 | Job P13 | Job P14 | |||
Beg. Bal | 4,500 | Beg. Bal | 4,200 | 9,300 | 0 | |
Bought | 6,500 | DM | 1,500 | 6,300 | 400 | |
Used | <8,100> | DL | 2,400 | 3,600 | 1,200 | |
End. Bal | 2,900 | OH | 2,880 | 4,230 | 1,440 | |
Bal. 1/31 | 10,980 | 23,520 | 3,040 |
WIP | Overhead | Finished Goods | COGS | |||||||
Beg. Bal. | 13,500 | IM | 1,300 | Beg. | 0 | <10,980> | ||||
DM | 8,200 | IL | 600 | 10,980 | ||||||
DL | 7,200 | Depr. | 1,500 | 23,520 | ||||||
OH | 1,800 | Other | 2,700 | <10,980> | ||||||
<10,980> | ||||||||||
<23,520> |