A job-order cost sheet for Rolen Company is shown below.

Instructions
(a) On the basis of the foregoing data, answer the following questions:
1. What was the balance in Work in Process Inventory on January 1 if this was the only unfinished job?
2. If manufacturing overhead is applied on the basis of direct labour cost, what overhead rate was used in each year?
(b) Prepare summary entries at January 31 to record the current year's transactions pertaining to Job No. 92.

Transcribed Image Text:

ob No. 9.2 For 2,000 Units Direct Materials Direct Labour Manufacturing Overhead Date Beginning Balance January 1 $3,925 6,000 6,000 4,200 6,375 3,000 27 4,000 11,925 Cost of completed job: Direct materials Direct labour Manufacturing overhead $11,925 18,500 13,575 $44,000 $ 22.00 Total cost Unit cost ($44,000/2,000)