Manhattan Products started and finished job no. B67 during June. The job required $8,000 of direct material
Question:
Manhattan Products started and finished job no. B67 during June. The job required $8,000 of direct material and 50 hours of direct labor at $9 per hour. The predetermined overhead rate is $12 per direct labor hour.
During June, direct materials requisitions for all jobs (including job no.B67) totaled $92,000. The total direct labor hours and cost for all jobs (including job no.B67) were 4,000 hours at $9 per hour. The costs of all jobs completed (including job no. B67) were $182,000.
Required:
a. Prepare journal entries that summarize June's total activity.
b. Determine the cost of job no. B67.
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