0703--01 - PRODUCT COSTING: Job cost system Materials DMI...

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Unformatted text preview: PRODUCT COSTING: Job cost system Materials DMI -- Beginning ............................... 48 $ Material purchases ............................................................ 1016 DM usage ............................................................ -890 IM usage ............................................................ -20 DMI -- Ending ............................... $154 Labor WIP FGI Direct labor ........................................................ $345 WIP -- Beg ............................... 220 $ FGI -- Beg ...............................$366 Indirect labor ........................................................ usage ............................................................ Units completed ................................. 120 DM 890 1704 -1695 Total labor cost ....................................... $465 Direct labor ........................................................ Units sold .......................................... 345 OHA ............................................................. 450 FGI -- End ...............................$375 Overhead applied -1704 Units completed .................................. OH application base .................................................. WIP -- End ............................... 201 45 $ OH application rate .................................................. $10.00 OH applied ........................................... $450 Overhead control IM usage ............................................................ $20 Indirect labor ........................................................ 120 Depreciation ........................................................ 160 Utilities ........................................................... 60 Other ........................................................... 115 Total OH ................................................... $475 O(U)AOH OH applied ........................................... $450 Total OH ................................................... -475 ($25) O(U)AOH ............................................ COGS Units sold .......................................... $1,695 O(U)AOH ........................................... 25 $ Total COGS ......................... 1,720 ...
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