18. LO.4 (Cost accumulation) Barfield Mfg. Co. applies overhead to jobs at a rate of 140 percent
of direct labor cost. The following account information is available.
Calculate the following items that are missing from Barfield's acc
16. LO.4 (Journal entries; cost accumulation) The following costs were incurred in February
2013 by Container Corp., which produces customized steel storage bins:
Direct material purchased on account
Direct material used for jobs:
Two months later, Quindo Industries delivered the completed machinery, configured and
manufactured as per the contract. However, the accompanying invoice caught Salem's executives
by surprise. The invoice provided the following:
5. Jobs #247 through #255 were completed and delivered to customers, who paid for the goods in
cash. The revenue on these jobs was $2,264,774.
a. Journalize all preceding events.
b. Determine the ending balances for the jobs
21. LO.4 (Cost accumulation; assigning costs to jobs) Mystic Inc. uses a job order costing system
and applies overhead to jobs at a predetermined rate of $4.25 per direct
labor dollar. During April 2013, the company spent $29,600 on
Supporting Calculations regarding Overhead
Total Overhead (OH)
Product A Function
9. LO.1 (Costing system choice) For each of the following firms, determine whether it is more
likely to use job order or process costing. This firm
a. provides legal services.
b. is a health-care clinic.
c. manufactures shampoo.
Answers to the hw: CM Percentage
CM Percentage = $(275,000/400,000) = .6875
Let X = sales Revenues
At Break Even Point: