• Devon Corporation, which manufactures hand$-$made wooden toys, entered into the following transactions during January, its first month of operations:a$.$ Purchased $5,000$ pounds of direct materials on account for $$20$ per pound.b$.$ Purchased $150$ gallons indirect materials for $$10$ per gallon on account.c$.$ Direct materials were used in production for the following jobs: Job pounds$)$ and Job $102(1,000$ pounds$).$d$.$ Twenty gallons of indirect materials were used for Job $101$ and ten gallons were used for Job $102.$e$.$ Direct labor for Job $101$ totaled $450$ hours and for Job $102$ totaled $150$ hours. Direct labor workers earn $$25$ per hour.f$.$ Indirect labor amounted to $$7,500$ and administrative wages were $$4,000.$g$.$ Overhead is assigned based on a rate of $40\%$ of direct labor costs.h$.$ Fifty percent of Job $101$ was completed and transferred to a warehouse.i$.$ Forty percent of the completed units were sold on account for a fifteen percent markup.Required:What is the total cost associated with Jobs $101$ and $102$ before correcting for any misapplied overhead?

  
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8. Devon Corporation, which manufactures hand-made wooden toys, entered into the following transactions during January, its first month of operations: Purchased 5,000 pounds of direct materials on account for $20 per pound. b. Purchased 150 gallons indirect materials for $10 per gallon on account. c. Direct materials were used in production for the following jobs: Job 101 (2,000 pounds) and Job 102 (1,000 pounds). d. Twenty gallons of indirect materials were used for Job 101 and ten gallons were denused for Job 102. e. Direct labor for Job 101 totaled 450 hours and for Job 102 totaled 150 hours. Direct labor workers earn $25 per hour. f. Indirect labor amounted to $7,500 and administrative wages were $4,000. g. Overhead is assigned based on a rate of 40% of direct labor costs. h. Fifty percent of Job 101 was completed and transferred to a warehouse. i. Forty percent of the completed units were sold on account for a fifteen percent markup. Required: que What is the total cost associated with Jobs 101 and 102 before correcting for any misapplied overhead? 8. Devon Corporation, which manufactures hand-made wooden toys, entered into the following transactions during January, its first month of operations: Purchased 5,000 pounds of direct materials on account for $20 per pound. b. Purchased 150 gallons indirect materials for $10 per gallon on account. c. Direct materials were used in production for the following jobs: Job 101 (2,000 pounds) and Job 102 (1,000 pounds). d. Twenty gallons of indirect materials were used for Job 101 and ten gallons were denused for Job 102. e. Direct labor for Job 101 totaled 450 hours and for Job 102 totaled 150 hours. Direct labor workers earn $25 per hour. f. Indirect labor amounted to $7,500 and administrative wages were $4,000. g. Overhead is assigned based on a rate of 40% of direct labor costs. h. Fifty percent of Job 101 was completed and transferred to a warehouse. i. Forty percent of the completed units were sold on account for a fifteen percent markup. Required: que What is the total cost associated with Jobs 101 and 102 before correcting for any misapplied overhead?

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ANSWER To find the total cost associated with Jobs 101 and 102 before correcting for any misapplied ... View the full answer