subject
Business, 22.02.2021 18:40 Kadancepiggott7

The following information is for Punta Company for July: 1. Factory overhead costs were applied to jobs at the predetermined rate of $42.50 per labor hour.
2. Job S incurred 6,175 labor hours; Job T used 4,275 labor hours.
3. Job S was shipped to customers during July.
4. Job T was still in process at the end of July.
5. The overapplied or underapplied overhead to the Cost of Goods Sold account was closed at the end of July.
6. Factory utilities, factory depreciation, and factory insurance incurred are summarized as follows:

Utilities $14,250
Depreciation 45,000
Insurance 18,000
Total $77,250

Direct materials and indirect materials used are as follows:

Job S Job T Total
Material A $28,500 $71,250 $99,750
Material B 12,000 35,000 47,000
Subtotal $40,500 $106,250 $146,750
Indirect materials 211,000
Total $357,750

Direct labor incurred for the two jobs and indirect labor are as follows:

Job S $55,500
Job T 45,000
Indirect labor 133,000
Total $233,500

Required:
a. Calculate the total manufacturing cost for Job S and Job T for July. (Round your intermediate calculations and final answers to 2 decimal places.)
b. Calculate the amount of overapplied or underapplied overhead and state whether the Cost of Goods Sold account will be increased or decreased by the adjustment.

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 22.06.2019 02:20, Shaynnn6292
The following information is available for juno company for the month ending june 30, 2019. * balance as per the bank statement is $ 11 comma 000. * balance as per books is $ 10 comma 400. * check #506 for $ 1 comma 200 and check #510 for $ 900 were not shown on the june 30, bank statement. * a deposit in transit of $ 3 comma 346 had not been received by the bank when the bank statement was generated. * a bank debit memo indicated an nsf check for $ 70 written by jane smith to juno company on june 13. * a bank credit memo indicated a note collected by the bank of $ 1 comma 900 and interest revenue of $ 51 on june 20. * the bank statement indicated service charges of $ 35. what is the adjusted book balance?
Answers: 3
image
Business, 22.06.2019 17:20, spycn5069
Arecession is defined as a period in which
Answers: 1
image
Business, 22.06.2019 17:30, Envious1552
Gary lives in an area that receives high rainfall and thunderstorms throughout the year. which device would be useful to him to maintain his computer?
Answers: 2
image
Business, 22.06.2019 20:20, wavymoney77yt
Direct materials (4.2 x $15) $ 63direct labor ($12 x 17.5) $210manufacturing overhead ($2.40 x 17.5) $42total job cost $ 315dougan, inc. allocates overhead based on a predetermined overhead rate of $2.40 per direct labor hour. employees are paid $12.00 per hour. job 24 requires 4.2 pounds of direct materials at a cost of $15.00 per pound. employees worked a total of 17.5 hours to complete the job. actual manufacturing overhead costs totaled $80,000 for the year for the company. how much is the cost of job 24?
Answers: 1
You know the right answer?
The following information is for Punta Company for July: 1. Factory overhead costs were applied to...

Questions in other subjects:

Konu
Physics, 11.03.2021 21:10
Konu
Mathematics, 11.03.2021 21:10