Jasper Company uses a job costing system. Overhead is allocated based on 120 per cent of direct

Question:

Jasper Company uses a job costing system. Overhead is allocated based on 120 per cent of direct labour cost. Last month’s transactions in the work in process account are shown here:

Only one job, number 850, was still in process at the end of the month. Job 850 was charged with $9000 in overhead for the month.

Required

(a) What is the ending balance in the WIP account?

(b) How much direct labour cost was used for job 850?

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Management Accounting

ISBN: 9780730369387

4th Edition

Authors: Leslie G. Eldenburg, Albie Brooks, Judy Oliver, Gillian Vesty, Rodney Dormer, Vijaya Murthy, Nick Pawsey

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Question Posted: Jul 09, 2021 08:12 AM

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Jasper Company uses a job costing system. Overhead is allocated based on 120 per cent of direct

Question:

Work in process $ 48 000 160 000 Beginning balance Direct materials To finished goods $442 000 Direct labour 120 000 Factory overhead 150 000

Step by Step Answer:

a WorkInProcess Inventory Beginning Balance 48 000 Direct materials 160 000 Direct labour 120 000 F...View the full answer

Management Accounting

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