p11-6b - Name Date Instructor Course Managerial Accounting...

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FileName: 139355280d5663e3d6b572c595fc3505a2fafa6a.xls, Tab: Problem P11-6B, Page 1 of 2, 12/28/2011, 19:03:23 Name: Date: Instructor: Course: (Job No. 12) was received for 1,950 units of Product B. The standard cost of 1 unit of Product B is as follows: Direct materials 3.00 pounds at $1.00 per pound $3.00 Direct labor 1.00 hour at $8.00 per hour 8.00 Overhead 2.00 hour variable $4.00 per machine hour 8.00 Overhead 2.00 hour fixed $2.25 per machine hour 4.50 Standard cost per unit $23.50 Normal capacity for the month of January was 4,200 January, the following transactions applicable to Job 12 occurred: 1. Purchased 6,250 pounds of raw materials on account at $1.04 per pound. 2. Requisitioned 6,250 pounds of raw materials for job No. 12. 3. Incurred 2,200 hours of direct labor at $7.75 per hour. 4. Worked 2,200 hours of direct labor on Job No. 12. 5. Incurred manufacturing overhead on account, $25,800 6. Applied overhead to Job No. 12 on the basis of standard machine hours used. 7. Completed Job No. 12. 8. Billed customer for Job No. 12 at a selling price of $70,000 9. Incurred selling and administrative expenses on account of $2,000 Instructions: 1 Account Title Formula Account Title Formula Account Title Formula Area for computation as desired Area for computation as desired Area for computation as desired 2 Account Title Formula Account Title Formula Account Title Formula Area for computation as desired Area for computation as desired
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