This preview shows page 1. Sign up to view the full content.
Unformatted text preview: To date, $13,000 in direct labor and $3,500 of direct materials had been committed to the Ravenwood job. Total direct labor incurred on all jobs during June was $60,900. Total direct material incurred on all jobs during June was $11,700. (a) Compute the ending work in process inventory balance and the total cost assigned to finished jobs. (b) Why is it necessary to track costs to individual jobs? (c) The overhead application rate is based on estimates. What happens if the amount of overhead applied to individual jobs differs from the amount of overhead actually incurred?...
View Full Document
This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.
- Spring '11