value: 11.00 points Problem 2-1A Part 1 Required 1. Determine the total of each
ID: 2419981 • Letter: V
Question
value: 11.00 points Problem 2-1A Part 1 Required 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). Job 306 Job 307 Job 308 April Total From March Direct Materials Direct Labor Applied overhead 26,000 $ 23,000 11,500 60,500 $ 40,000 18,000 9,000 67,000 $ $ 66,000 41,000 20,500 0 $ 127,500 Beginning goods in process $ For April Direct Materials 134,000 104,000 115,000 102,000 51,000 268,000 464,000 359,000 179,500 1,002,500 268,000 $ 1,130,000 215,000 Direct Labor 153,000 Applied overhead Total costs added in April Total costs (April 30) Status on April 30 April 30 cost included in: 52,000 290,000 350,500 $ 76,500 444,500 511,500 $ Finished (sold) Cost of goods sold Finished (unsold) Finished goods In process Work in process inventory inventoryExplanation / Answer
Job 306
Job 307
Job 308
April Total
For March :
Direct Material
$ 26,000
$ 40,000
$ 66,000
Add: Direct Labor
$ 23,000
$ 18,000
$ 41,000
Add: Applied Overhead
$ 11,500
$ 9,000
$ 20,500
Beginning goods in process (A)
$ 60,500
$ 67,000
$ 127,500
For April :
Direct Material
$ 134,000
$ 215,000
$ 115,000
$ 464,000
Add: Direct Labor
$ 104,000
$ 153,000
$ 102,000
$ 359,000
Add: Applied Overhead
$ 52,000
$ 76,500
$ 51,000
$ 179,500
(104000*50%)
(153000*50%)
(102000*50%)
Total Cost added in April (B)
$ 290,000
$ 444,500
$ 268,000
$ 1,002,500
Total Cost (April 30) (A+B)
$ 350,500
$ 511,500
$ 268,000
$ 1,130,000
Status on April 30
Finished (Sold)
Finished (Unsold)
In Process
April 30 cost included in :
Cost of Good sold
Finished Goods Inventory
Work In Process Inventory
Job 306
Job 307
Job 308
April Total
For March :
Direct Material
$ 26,000
$ 40,000
$ 66,000
Add: Direct Labor
$ 23,000
$ 18,000
$ 41,000
Add: Applied Overhead
$ 11,500
$ 9,000
$ 20,500
Beginning goods in process (A)
$ 60,500
$ 67,000
$ 127,500
For April :
Direct Material
$ 134,000
$ 215,000
$ 115,000
$ 464,000
Add: Direct Labor
$ 104,000
$ 153,000
$ 102,000
$ 359,000
Add: Applied Overhead
$ 52,000
$ 76,500
$ 51,000
$ 179,500
(104000*50%)
(153000*50%)
(102000*50%)
Total Cost added in April (B)
$ 290,000
$ 444,500
$ 268,000
$ 1,002,500
Total Cost (April 30) (A+B)
$ 350,500
$ 511,500
$ 268,000
$ 1,130,000
Status on April 30
Finished (Sold)
Finished (Unsold)
In Process
April 30 cost included in :
Cost of Good sold
Finished Goods Inventory
Work In Process Inventory
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