Jenkins Company uses a oo on e cost system sth overhead applied to obs on tha ba

Question

Jenkins Company uses a oo on e cost system sth overhead applied to obs on tha bas 8 of drect abor hours. The direct abor rate i8 20 per nour, and he predetermined over ad rate 8 5 per direct abor hour The company worked on t ree obs durnAOri ob8 A 8nd B ere n o cess at the beginnin at Apri Jab A was omal tad and delivered to the customer Job B was compiated during Apr but not sold Joe was started during April but not com seled The ob cost sheets re Rale the tollawng costs r A nl Coat at Johs in Process, 412016 Dract Matenals LIsad Dircct Labor Appliad Manufacturing Overhaad Job A 11,900 1 500 9000 Jah BJah C 1,000 7.000 7.500 2.500 Required: If no cther jots were started, completed, ar sod, determina the balance in each of tha fallawng acccunts at the and of April: a. Work in Pocess b. Frished Goods t ot Goods Sold

Explanation / Answer

a Work in process =Cost of Job C 11875 =7500+2500+(2500/20*15) b Finished goods =Cost of Job B 20250 =1000+7000+7000+(7000/20*15) c Cost of goods sold =Cost of Job A 28750 =11500+1500+9000+(9000/20*15)

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