Overhead Application and Job-Order Costing
Heurion Company is a job-order costing firm that uses a plant wide overhead rate based on direct labor hours. Estimated information for the year is as follows:
|
Overhead
|
$789,000
|
|
Direct labor hours
|
100,000
|
Heurion worked on five jobs in July. Data are as follows:
|
|
Job 741
|
Job 742
|
Job 743
|
Job 744
|
Job 745
|
|
Balance, July 1
|
$29,870
|
$55,215
|
$27,880
|
$0
|
$0
|
|
Direct materials
|
$25,500
|
$39,800
|
$14,450
|
$13,600
|
$8,420
|
|
Direct labor cost
|
$61,300
|
$48,500
|
$28,700
|
$24,500
|
$21,300
|
|
Direct labor hours
|
4,000
|
3,400
|
1,980
|
1,600
|
1,400
|
By July 31, Jobs 741 and 743 were completed and sold. The remaining jobs were in process.
Score: 124/124
Heurion Company
Job-Order Cost Sheets
For the Month of July
|
1
|
|
Job 741
|
Job 742
|
Job 743
|
Job 744
|
Job 745
|
|
2
|
Beginning balance
|
?
|
?
|
?
|
?
|
?
|
|
3
|
?
|
?
|
?
|
?
|
?
|
?
|
|
4
|
?
|
?
|
?
|
?
|
?
|
?
|
|
5
|
?
|
?
|
?
|
?
|
?
|
?
|
|
6
|
?
|
?
|
?
|
?
|
?
|
?
|
Calculate the balance in Work in Process on July 31.
Work in process balance on July 31 is .
Points:
0 / 1
Calculate Cost of Goods Sold for July.
Cost of Goods Sold for July is .