Chpt19HW - 1 The cost of direct materials requisitioned in...

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1 . The cost of direct materials requisitioned in the month equals the total direct materials costs accumulated on the three jobs less the amount of direct materials cost assigned to Job 102 in May: Job 102 . ................... $30,000 Less prior costs. ........................................... (12,000 ) $ 18,000 Job 103 . ................... 66,000 Job 104 . ................... 54,000 Total materials used (requisitioned). ......... $138,000
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(Continued) 2 . Direct labor cost incurred in the month equals the total direct labor costs accumulated on the three jobs less the amount of direct labor cost assigned to Job 102 in May: Job 102 . ........................................................ $16,000 Less prior costs. ........................................... (3,600 ) $ 12,400 Job 103 . ........................................................ 28,400 Job 104 . ........................................................ 42,000 Total direct labor. ......................................... $ 82,800 3 . The predetermined overhead rate equals the ratio between the amount of overhead assigned to the jobs divided by the amount of direct labor cost assigned to them. Since the same rate is used for all jobs started and completed within a month, the ratio for any one of them equals the rate that was applied. This table shows the ratio for jobs 102 and 104: Job 102 Job 104 Overhead. ................................. $ 8,000 $21,000 Direct labor. ........ 16,000 42,000 Ratio. ................... 50% 50% 4 . The cost transferred to finished goods in June equals the total costs of the two completed jobs for the month, which are Jobs 102 and 103: Job 102 Job 103 Total Direct materials. ...................... $30,000 $ 66,000 $ 96,000 Direct labor. ............................. 16,000 28,400 44,400 Overhead. ................................. 8,000
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Chpt19HW - 1 The cost of direct materials requisitioned in...

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