It is possible that the total cost of a job started in April and completed in...
It is possible that the total cost of a job started in April and completed in May will not include:
applied overhead in April.
direct labor added in May.
direct material added in April.
direct material purchased in May.
Homework Answers
Correct answer---------direct material purchased in May..
.
.
It is possible that direct material purchased in may is not added to the cost of job started in april because the material maybe added in the beginning if the process.
Other than that, material purchased in may is not nessesarily used for that particular job and maybe used for other jobs and purchased for other jobs. Material cost is added to a job only when material is used by that job, merely purchasing material do not increase total cost of a job.
Overhead is added to incomplete jobs too so overhead will be added to job started in april, in the month of april and may according to usage of application basis.
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total cost assigned to each job including the balances from March
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