Brief Exercise 15-5 In January, Knox Company requisitions raw materials for prod

Question

Brief Exercise 15-5 In January, Knox Company requisitions raw materials for production as follows: Job 1 $911, Job 2 $1,480, Job 3 $801, and general factory use $611. During January, time tickets show that the factory labor of $6,110 was used as follows: Job 1 $2,311, Job 2 $1,742, Job 3 $1,581, and general factory use $476. Prepare the job cost sheets for each of the three jobs. Job 1 Date Direct Materials Direct Labor 1/31 Job 2 Date Direct Materials Direct Labor 1/31 Job 3 Date Direct Materials Direct Labor 1/31

Explanation / Answer

Job cost sheet for Job 1, Job 2 and Job 3 is as under:

(Information regarding rate of absorption of manufacturing overhead has not been given therefore the manufactuirng overhead has not been calculated here.)

JOB COST SHEET Job No. 1 Quantity Item Date Requested For Date Completed Date Direct Material Direct Labor Manufacturing Overhead 31-Jan $ 911 $ 2,311 Cost of completed job Direct Material $ 911 Direct Labor $ 2,311 Manufacturing Overhead Total Cost $ 3,222 Unit Cost (Total dollars/Quantity)

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