# February february 1 added during february work in

• 8

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 5 - 8 out of 8 pages.

February:February 1Added During FebruaryWork in ProcessDirectDirectJobNumberInventoryMaterialsLabor1\$1,500\$400\$3002\$2,000\$600\$7503\$500\$1,000\$1,5004\$250?\$2,400Overhead is charged to jobs at the rate of 140% of direct labor cost. Jobs 1, 2, and 3 werecompleted during February and transferred to finished goods. Job 3 has been delivered to thecustomer. The work in process inventory on Feb 28thwas \$7,310.1.How much are the manufacturing overhead costs added to jobs during the month?a.\$6550b.\$6930c.\$7100d.\$7900
2.How much is the cost of goods sold during Feb?
3.How much is direct materials cost for Job 4?
Exercise 3-4:Example: John Mayer is employed by MAMA, Inc. He is directly involved in producingsmoothies. His basic wage rate is \$10 per hour. The company pays its employees time and a half(\$15) for any work in excess of 20 hours per week.This week, John works for 23 hours but is idle for 2 hours during the week due to a smoothiemachine breakdown (assume that the 2-hour idle time is NOT within the overtime). The storeoffers a package of fringe benefits that costs the company \$3 for each hour of employee time(either regular or overtime).Assuming that the company treats all fringe benefits as part of manufacturing overhead costs,1.How much is total direct labor cost?
2.How much is manufacturing overhead cost?a.\$120b.\$144c.\$104d.\$135
Extra 3-1:The cost of goods manufactured for February was:The correct answer is:

Course Hero member to access this document

End of preview. Want to read all 8 pages?

Course Hero member to access this document

Term
Fall
Professor
BillKnowles
Tags
Employee Benefit