Question

e. Applied overhead to Jobs 136, 138, and 139. f. Transferred Jobs 136, 138, and 139 to Finished Goods. g. Sold Jobs 136 and 138 on credit at a total price of $550,000. h. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance) Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable 70,000 37,000 12,080 35,500 i. Applied overhead at month-end to the Work in Process Inventory account (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost.

e. Applied overhead to Jobs 136, 138, and 139. f. Transferred Jobs 136, 138, and 139 to Finished Goods. g. Sold Jobs 136 and 138 on credit at a total price of $550,000. h. The company incurred the following overhead costs during the month (credit Prepaid Insurance for expired factory insurance) Depreciation of factory building Depreciation of factory equipment Expired factory insurance Accrued property taxes payable 70,000 37,000 12,080 35,500 i. Applied overhead at month-end to the Work in Process Inventory account (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost.

Answer 1

Solution 1:

	Job No. 136	Job No. 137	Job No. 138	Job No. 139	Job No. 140
Materials	$50,000.00	$33,000.00	$19,400.00	$23,000.00	$6,400.00
Labor	$12,100.00	$10,800.00	$38,100.00	$39,400.00	$3,000.00
Overhead (200% of labor)	$24,200.00	$21,600.00	$76,200.00	$78,800.00	$6,000.00
Total cost	$86,300.00	$65,400.00	$1,33,700.00	$1,41,200.00	$15,400.00