Spicy P, Inc., uses a job-order costing system. Costs going through the company's work-in-process account during June
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Question:
Spicy P, Inc., uses a job-order costing system. Costs going through the company's work-in-process account during June are listed below. Manufacturing overhead is applied to production using a predetermined overhead rate based on direct labour cost.
Work in process | ||
Balance | 0 | $95,000 transferred out |
Direct materials | $20,000 | |
Direct labour | 30,000 | |
Manufacturing overhead | 60,000 | |
Balance | $15,000 |
Only Job 101 was still in process at the end of the month. This job had been charged with $3,000 in direct materials cost. Required:
- Complete the following for Job 101:
Direct materials | $3,000 |
Direct labour | |
Manufacturing overhead | |
Total cost at June 30 |
- Determine the total amount of materials cost charged to completed jobs during the month.
Related Book For
Managerial Accounting
ISBN: 9781260193275
12th Canadian Edition
Authors: Ray H. Garrison, Alan Webb, Theresa Libby
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