oblem 3-10 Points the job the job cost sheets special orders to manufacture sail

Question

oblem 3-10 Points the job the job cost sheets special orders to manufacture sail boats for high ernd customers Complete for Drop Anchor for September based on the following information. Post to a. Purcha sed raw materials on credit, $145,000 b. Materials s requisitions: Job 240, $48,000; Job 241, $36,000, Job 242, s42.000, indirect materials were $12,000 c. Time tickets used to charge labor to jobs: Job 240, $40,000, Job 241.$30,000 Job 242. $35,000, indirect labor is $25,000 d. The company incurred the following additional overhead costs: depreciation of factory building, $70,000: depreciation of factory equipment, $60,000, expired factory insurance, $10,000; utilities and maintenance cost of $20,000 were paid in cash. e. Applied overhead to all three jobs. The predetermined overhead rate is 190% of direct abor cost. f. Transferred jobs 240 and 242 to Finished Goods Inventory. g. Sold job 240 for $300,000 for cash. h. Closed the under- or over-applied overhead account balance. Job Cost Sheets 42 otal or the current month Direct materials Direct labor Applied overhead Total costs

Explanation / Answer

Job cost sheets: 240 241 242 Total For the current month: Direct materails 48000 36000 42000 126000 Direct labor 40000 30000 35000 105000 Applied overhead 76000 57000 66500 199500 Total costs 164000 123000 143500 430500

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