As the end of june the job cost sheets at tracer wheels inc, Ask an Expert

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As the end of June, the job cost sheets at Tracer Wheels, Inc. Show the following total costs accumulated on three custom jobs.

Job 102 Job 103 Job 104 TOTALS
Direct materials $25,000 $59,000 $56,000 $140,000
Direct labor 14,000 26,700 40,000 $80,700
Overhead 7,000 13,350 20,000 $220,700

Jobs 102 was started in production in May and the following costs were assigned to it in May: direct materials $13,000; direct labor $3,600 and overhead $1600. Jobs 103 and 104 are stated in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 are finished in June and Job 104 is expected to be finished in July. No raw materials are used indirectly in June. Using this information answer the following questions.What is the cost of raw materials requisitioned in June for each of the three jobs?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9980879

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