chapter15probsetc - PROBLEM 15-1C Rogers Corporation...

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PROBLEM 15-1C Rogers Corporation manufactures pre-fabricated homes ranging from 1,000 to 2,200 square feet. The company uses a job order costing system. On January 1, 2005, the company has three homes in its finished goods inventory and two homes that are in progress. The costs incurred on these homes follow. Overhead is applied at a rate of 125% of direct labor cost. WIP stands for Work-in-Progress Inventory. Job # Jan 1st Status Direct Materials Direct Labor Cost Applied Overhead Total Cost to Date 283 Done 29,000 19,000 23,750 71,750 284 Done 22,000 20,000 25,000 67,000 285 Done 11,000 15,000 18,750 44,750 286 WIP 5,000 7,000 8,750 20,750 287 WIP 8,000 6,000 7,500 21,500 During the month of January, Jobs 286 and 287 are finished. Jobs 288, 289, and 290 are started. Jobs 283 and 284 are sold for cash at a mark-up of 150% of manufacturing cost. The costs incurred in January for the items described here are as follows. Job # Jan 31 st Status Direct Materials Direct Labor Applied Overhead Total January Costs Incurred 286 Done 14,000 10,000 287 Done 14,000 15,000 288 WIP 13,000 18,000 289 WIP 11,000 9,000 290 WIP 17,000 20,000 Required: 1. What is the total amount of sales revenue earned by the company in January 2005? 2.
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chapter15probsetc - PROBLEM 15-1C Rogers Corporation...

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