Required information Job 306 Job 307 Job 308 April Total From March Direct Mater

Question

Required information Job 306 Job 307 Job 308 April Total From March Direct Materials Direct Labor Applied overhead 32,000 25,000 12,500 69,500 38,000 18,000 9,000 65,000 $ 70,000 43,000 21,500 $ 134,500 Beginning goods in process For April 200,000 154,000 Direct Materials 454,000 139,000 102,000 115,000 Direct Labor 101,000 357,000 Applied overhead Total costs added in April Total costs (April 30) Status on April 30 April 30 cost included in 241,000 354,000 216,000 811,000 Finished (sold) Cost of goods sold Finished (unsold) In process inished goods inventory ork in process inventory

Explanation / Answer

Job 306 Job 307 Job 308 Total From March Material 32000 38000 70000 Labor 25000 18000 43000 Applied Overheads 12500 9000 21500 Beginning WIP 69500 65000 134500 For April Direct Material 139000 200000 115000 454000 Direct Labor 102000 154000 101000 357000 Applied Overheads 51000 77000 50500 178500 Total cost added in April 292000 431000 266500 989500 Total cost (April 30) 361500 496000 266500 1124000 Status on April 30 Finished (Sold) Finished(Unsold) In Process April 30 Cost included in COGS FG Inv. WIP Inv. Req 1. Total of each production cost: Direct material Job 306 139000 Job 307 200000 Job 308 115000 Total direct material cost incurred 454000 Direct Labor Job 306 102000 Job 307 154000 Job 308 101000 Total Direct Labor cost incurred 357000 Applied Overheads Job 306 51000 Job 307 77000 Job 308 50500 Total Applied overheads incurred 178500 Req 2. Total cost of each Job: Job 306 261500 Job 307 496000 Job 308 266500

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