The following t-accounts are give for the month of October for a company that uses a...

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The following t-accounts are give for the month of October for a company that uses a job-order costing system. The company applies manufacturing overhead to jobs based on direct labor costs. Transaction (b) was made to record materials, (c) was made to record labor and (e) was made to apply overhead. Bal Raw Materials Inv 32,000 5,500 2,500 (b Work in Process Invi o 32,040 ( Bal b) 19,700 c) 19,100 e) 15,280 22,040 Bal 1) (8) Finished Goods Inv 0 32,040 (g 32,040 ? Cost of Goods Sold 32,040 b) (c) (d) Manufacturing OH 6,800 6,900 2,060 15,750 P 15,280 (e 15,280 Using the information in the t-accounts, answer the following questions. Enter you answers in the boxes provided. Do not use S in any numerical answers, but do use commas. A. The amount of indirect materials used during the month was $ B. Was overhead over or underapplied, and by how much? (enter an amount and either overapplied or underapplied in the box) C. The amount of direct labor incurred during the month was $ D. Were all jobs completed during the month sold? How do you know? Enter yes or no and the reason for your response in the box. E. What was the Predetermined Overhead Rate used by the company to apply overhead? F. What was Cost of Goods Manufactured for the month of June? $ G. What was the adjusted cost of the job(s) sold for the month? $ % The following t-accounts are give for the month of October for a company that uses a job-order costing system. The company applies manufacturing overhead to jobs based on direct labor costs. Transaction (b) was made to record materials, (c) was made to record labor and (e) was made to apply overhead. Bal Raw Materials Inv 32,000 5,500 2,500 (b Work in Process Invi o 32,040 ( Bal b) 19,700 c) 19,100 e) 15,280 22,040 Bal 1) (8) Finished Goods Inv 0 32,040 (g 32,040 ? Cost of Goods Sold 32,040 b) (c) (d) Manufacturing OH 6,800 6,900 2,060 15,750 P 15,280 (e 15,280 Using the information in the t-accounts, answer the following questions. Enter you answers in the boxes provided. Do not use S in any numerical answers, but do use commas. A. The amount of indirect materials used during the month was $ B. Was overhead over or underapplied, and by how much? (enter an amount and either overapplied or underapplied in the box) C. The amount of direct labor incurred during the month was $ D. Were all jobs completed during the month sold? How do you know? Enter yes or no and the reason for your response in the box. E. What was the Predetermined Overhead Rate used by the company to apply overhead? F. What was Cost of Goods Manufactured for the month of June? $ G. What was the adjusted cost of the job(s) sold for the month? $ %

Answer rating: 100% (QA)

A The taccounts do not provide any information about indirect materials used so the amount is 0 B To ... View the full answer