At the end of June, the job cost sheets at Ace Roofers show the following costs accumulated on three jobs. 

a. Job 5 was started in May, and the following costs were assigned to it in May: direct materials, $7,300; direct labor, $3,100; and applied overhead, $2,200. Job 5 was finished in June. 

b. Job 6 and Job 7 were started in June; Job 6 was finished in June, and Job 7 is to be completed in July. 

c. Overhead cost is applied with a predetermined rate based on direct labor cost. The predetermined overhead rate did not change across these months.r 

 Required 

1. What is the total cost of direct materials requisitioned in June? Direct materials requisitioned in June

2. What is the total cost of direct labor used in June? Direct labor used in June

3. What is the predetermined overhead rate? Answer is complete and correct. Predetermined overhead rate 50 %

4. What is the total cost transferred to Finished Goods Inventory in June? Total transferred cost

Transcribed Image Text:

At June 30 Direct materials Direct labor Overhead applied Job 5 $ 17,600 10,600 5,300 Job 6 $ 34,300 16,800 8,400 Job 7 $ 28,300 23,600 11,800 At June 30 Direct materials Direct labor Overhead applied Job 5 $ 17,600 10,600 5,300 Job 6 $ 34,300 16,800 8,400 Job 7 $ 28,300 23,600 11,800

Answer rating: 100% (QA)

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