Thomas Company began its operations in 2 0 2 7 and applies overhead costs to jobs using
Question:
Thomas Company began its operations in and applies overhead
costs to jobs using a predetermined overhead rate equal to
of direct labor cost.
During Thomas Company began work on three jobs. Information
relating to these three jobs appears below:
Job A Job B Job C
direct materials used $
direct labor cost $ $
By the end of Job B and Job C had been completed.
Job A was not completed by the end of Additionally,
by the end of Job B had been sold while Job C was
not sold.
Additional information is provided below:
The cost of goods manufactured for totaled $
Thomas Company reported actual overhead cost for of
$
At December Thomas Company's work in process
inventory balance amounted to $ and its finished
goods inventory balance totaled $
Calculate the amount of direct materials used by Job B
during
Calculate the amount of direct labor cost charged to Job A
during
Calculate Thomas Company's cost of goods sold for after
the overhead variance is closed.
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer