Lecture Example - Topic 4

Lecture Example - Topic 4 - ACCT2102 Fundamentals of Cost...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
ACCT2102 Fundamentals of Cost Accounting Topic 4 Job Costing Lecture Example Transactions during July 2001: (a) Fabrics and trim purchases $78,000 (b) Direct material (fabric) requisitioned for production: Job# A B Total Leotards Tutus Capes #920 #190 #515 $15,000 36,000 20,000 71,000 $ 3,000 45,000 10,000 58,000 $18,000 81,000 30,000 $129,000 (c) Indirect materials (trim) requisitioned (Dep’t A: $0; Dep’t B: $ 3,000) (d) Direct labour hours: Job Dep’t A Dep’t B #920 1,000 1,200 #190 800 1,200 #515 400 100 The rates for direct labour are: Dep’t A, $6/hour; Dep’t B, $8/hour. (e) Indirect labour cost Dep’t A Dep’t B $6,300 $4,600 (f) Factory expenses Dep’t A Dep’t B Depreciation $2,300 $1,800 (Accumulated Dep’n ) Utilities 800 600 (Utilities Payable) Insurance 600 600 (Prepaid insurance) Property taxes 1,200 1,000 (Property tax payable) Repairs and maintenance 200 300 (Accounts Payable) Miscellaneous 100 200 (Accounts payable) $5,200 $4,500 Total $9,700 (g) Administrative and selling expenses……………………$125,000
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 07/07/2009 for the course ACCT 2102 taught by Professor Unknown during the Three '08 term at Queensland.

Ask a homework question - tutors are online