Billy Baroo Company uses a job order cost system. The following information was found in the...
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Billy Baroo Company uses a job order cost system. The following information was found in the Work-in-Process account for the month of July. Description Date July 1 Balance July 31 Direct labor July 31. July 31 July 31 Direct materials Factory overhead Transfer to finished goods Amount [DR. or (CR.)] $16,250 46,500 69,000 37,200 (97,000) Billy Baroo applies overhead to production at a predetermined rate of 80% based on the direct labor cost. Job # 23, the only job still in process at the end of July, has been charged with direct labor of $17,950. Direct material charged to Job #23 was: Billy Baroo Company uses a job order cost system. The following information was found in the Work-in-Process account for the month of July. Description Date July 1 Balance July 31 Direct labor July 31. July 31 July 31 Direct materials Factory overhead Transfer to finished goods Amount [DR. or (CR.)] $16,250 46,500 69,000 37,200 (97,000) Billy Baroo applies overhead to production at a predetermined rate of 80% based on the direct labor cost. Job # 23, the only job still in process at the end of July, has been charged with direct labor of $17,950. Direct material charged to Job #23 was:
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To calculate the direct materials charged to Job 23 we need to determine the total cost of Job 23 an... View the full answer
Related Book For
Managerial Accounting Tools for business decision making
ISBN: 978-1118096895
6th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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