Question

as of the end of June, the job cost sheets at racing wheels Inc. show the following total costs accumulated on three custom jobs.

Check my work As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Direct materials Direct labor Overhead applied Job 102 $41,000 17,000 7,990 Job 103 $74,000 28,500 13,395 Job 104 $53,000 45,000 21,150 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $15,000. direct labor, $3,100; and overhead, $1,457. Jobs 103 and 104 were started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were finished in June, and Job 104 is expected to be ed indirectly in June. Using this information, answer the following questions, any's predetermined overhead rate did not change across these months.) 1&2. Complete the table below to calculate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs? 3. Using the accumulated costs of the jobs, what predetermined overhead rate is used? 4. How much total cost is transferred to finished goods during June? Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Reg 4 Complete the table below to calculate the cost of the raw materials requisitioned and direct labor cost incurred during June each of the three jobs. Direct Materials

Answer 1

Req 1&2
		Direct materials
	Job	May	June	total
	102	15,000	26,000	41,000
	103		74,000	74000
	104		53,000	53000
	total	15,000	153,000	168,000
		Direct labor
	Job	May	June	total
	102	3,100	13,900	17,000
	103		28,500	28,500
	104		45,000	45,000
	total	3,100	87,400	90,500
Req 3
	Choose Numerator		/	Choose Denominator		=	OH rate
	Job 102
	overhead cost		/	Direct labor costs		=	overhead rate
	7,990		/	17,000		=	47%
	Job 103
	overhead cost		/	Direct labor costs		=	overhead rate
	13,395		/	28,500		=	47%
	Job 104
	overhead cost		/	Direct labor costs		=	overhead rate
	21,150		/	45,000		=	47%
Req 4		Direct	Direct	applied	total	cost trfd
	Job	materials	labor	overhead	cost	to finished
	102	41,000	17,000	7,990	65,990	65,990
	103	74,000	28,500	13,395	115,895	115,895
	104	53,000	45,000	21,150	119,150	0
	total	168,000	90,500	42,535	301,035	181,885