At the beginning of June the business was already working on Jobs T 4 0 5 and
Question:
At the beginning of June the business was already working on Jobs T and T and two new Jobs namely, Job T and Job T were started during June.The following data refers to the activities for the month of June :
Work in progress June :
JobT R
JobTR
Direct material issued:
JobTR
JobTR
JobTR
Direct labour hours worked:
JobT hours at R per hour
JobT hours at R per hour
JobT hours at R per hour
JobT hours at R per hour.
Additional information:
Depreciation of manufacturing assets amounted to R
Indirect material used, R
Indirect labour costs incurred, R
Miscellaneous manufacturing overhead costs of R were incurred during the month
Jobs T and T were completed.
Question : Calculate the cost of the jobs completed and the cost of the work in progress on JobT
Question : Calculate the amount of manufacturing overheads over or under applied.
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen