Currect answer--------$2400.
.
Cost of job #361 totalls up to $2400. Only job #361 is incomplete at the end of the month hence job 361 will remain in work in process.
Job 359 will transferred to cost of goods sold and job 360 will be transferred to finished goods.
QUESTION 2 Leija Manufacturing Company uses a job-order costing system and started the month of March...
Madtack Company uses a job-order costing system and started the month of March with only one job in process (Job #359). This job had $5,000 of total cost assigned to it at the beginning of March. Madtack applies overhead to jobs at a rate of 175% of direct labor cost. During March, Madtack assigned production costs as follows to the jobs worked on during the month: Job #359 Job #360 Job #361 direct materials .......... $1,000 $5,000 $3,000 direct labor...
Madtack Company uses a job-order costing system and started the month of March with three jobs in process. The cost of beginning work in process plus the costs added during March are shown below: Job #359 Job #360 Job #361 beginning work in process ..... $4,800 $3,500 $6,300 COSTS ADDED DURING MARCH: direct materials .............. $4,100 $3,900 $6,400 direct labor .................. 5,000 3,000 4,000 Madtack applies overhead to jobs at a rate of 85% of direct materials used. During March,...
Madtack Company uses a job-order costing system and started the month of March with three jobs in process. The cost of beginning work in process plus the costs added during March are shown below: Job #359 Job #360 Job #361 beginning work in process ..... $4,800 $3,500 $6,300 COSTS ADDED DURING MARCH: direct materials .............. $4,100 $3,900 $6,400 direct labor .................. 5,000 3,000 4,000 Madtack applies overhead to jobs at a rate of 85% of direct materials used. During March,...
Madtack Company uses a job-order costing system and started the month of March with three jobs in process. The cost of beginning work in process plus the costs added during March are shown below: Job #359 Job #360 Job #361 beginning work in process ..... $4,800 $6,300 $3,500 COSTS ADDED DURING MARCH direct materials .............. $3,300 $4,100 $4,600 direct labor .................. 5,000 3,000 4,000 Madtack applies overhead to jobs at a rate of 70% of direct materials used. During March,...
Kapanga Manufacturing Corporation uses a job-order costing system and started the month of October with a zero balance in its work in process and finished goods inventory accounts. During October Kapanga worked on three jobs and incurred the following direct costs on those jobs Direct materials Direct labor Job 318 $ 12,000 $ 8,000 Job 319 $ 25,000 $ 10,000 Job C11 $ 18,000 $ 5,000 Kapanga applies manufacturing overhead at a rate of 150% of direct labor cost. During...
The Blue Star Manufacturing Company uses a job order costing system and normal costing. It started operations in January 2014. Total production cost for Job A14 was $35,000. Job A14 was completed, but not sold as of the end of 2014. During 2014, the total production cost (DM + DL + OH) charged to B14 was $24,000. Job B14 was still unfinished at the end of 2014. The ending balance for Materials Inventory for 2014 was $6,000. At the end...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs: Work in Process Balance on 3/1 Job 33 $ 5,700 Job 34 4,600 $ 10,300 Source documents revealed the following during March: Materials Requisitions Forms Labor Time Tickets Status of Job at Month-End Job 33 $ 3,900 $ 4,700 Completed and sold Job 34 2,900 4,500...
QUESTION 2 [25] Erundu Limited uses a job order costing system. Only three jobs were worked on during the past month. The data for these jobs were as follows: Details Job A10 Job B15 Job C20 Opening WIP R26 800 R42 790 RO Direct material added during the month R17 275 RO R18 500 Direct labour for the month R14 500 R3 500 R24 000 The manufacturing overheads applied to the three jobs for the month were R126 000 and...
Question 5 Moor Company uses a job-order costing system and applies overhead costs to jobs at a rate of 120% of direct labor cost. Moor Company started the month of June with three jobs in process. The cost of beginning work in process plus the costs added during June are shown below: Job Job #1-A $3,250 Job #3-G $2,690 beginning work in process .. $3,720 COSTS ADDED DURING JUNE: direct materials ... direct labor ........ $4,680 3,530 $3,950 $2,870 2,410...