Computations using a job order system General Corporation employs a job order cost system. On May 1, the following balances were extracted from the general ledger:

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Work in process	$ 38,200
Finished goods	86,900
Cost of goods sold	128,700

Work in Process consisted of two jobs, No. 101 ($20,600) and No. 103 ($14,800). During May, direct materials requisitioned from the storeroom amounted to $96,500, and direct labor incurred totaled $114,500. These figures are subdivided as follows:

Direct Materials		Direct Labor
Job No.	Amount	Job No.	Amount
101	$ 5,000	101	$ 7,800
115	265	103	20,800
116	36,200	115	42000
Other	35,800	116	341
	$96,500	Other	25,900
			$114,500

Job No. 115 was the only job in process at the end of the month. Job No. 101 and three "other" jobs were sold during May at a profit of 20% of cost. The "other" jobs contained material and labor charges of $21,000 and $17,400, respectively.

General applies overhead daily at the rate of 150% of direct labor cost as labor summaries are posted to job orders. The firm's fiscal year ends on May 31.

Copy of ACC206 Guidance Report Week Three Excel File Home Insert Page Layout Formulas Data Review view Tell me what you want to do Q X fr Agree A decrease in Fixed cost will decreased the variable cost per unit and it wi increase the contribution margin D167 A YOUR ANSWERS BASED UPON COURSE START DATE production during May. Inventory. Job 115 Material 46 47 labor 48 Overhead Total May Job 101 51 Beginning work in process Material labor Overhead Total Job 103 59 Beginning work in process 60 Material labor Overhead Total 63 64