The computer workstation furniture manufacturing that Santana Rey started is progressing well. As of the end of
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Question:
The computer workstation furniture manufacturing that Santana Rey started is progressing well. As of the end of June, Business Solutions's job cost sheets show the following total costs accumulated on three furniture jobs.
Job Job Job
Direct materials $ $ $
Direct labor
Overhead applied
Job was started in May, and the following costs were assigned to it in May: direct materials, $; direct labor, $; and overhead, $ Jobs and were started in June. Overhead cost is applied with a predetermined rate as a percent of direct labor costs. Jobs and are finished in June, and Job is expected to be finished in July. The companys predetermined overhead rate did not change over these months.
Required:
What is the cost of direct materials used in June for each of the three jobs and in total?
What is the cost of direct labor used in June for each of the three jobs and in total?
What predetermined overhead rate is used in June?
How much cost is transferred to finished goods inventory in June?
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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