Madtack Company uses a job-order costing system and started the month of March w

Question

Madtack Company uses a job-order costing system and started the month of March with three jobs
in process. The cost of beginning work in process plus the costs added during March are shown
below:

                                    Job #359 Job #360 Job #361 beginning work in process ..... $4,800 $6,300 $3,500 COSTS ADDED DURING MARCH direct materials .............. $6,400 $3,300 $4,100 direct labor .................. 3,000 4,000 5,000 Madtack applies overhead to jobs using a pre-determined overhead rate of 120% of direct labor
cost. Madtack calculated its work in process at March 31 to be $17,800 and its cost of goods
sold for March to be $18,400.
Which job(s) were sold by Madtack during March?

Question 10 options:

A) Job #359 B) Job #360 C) Job #361 D) both Job #359 and Job #360 were sold E) both Job #360 and Job #361 were sold F) all three jobs were sold

Explanation / Answer

Job360 :correct option is "B"

Beginning WIP 6300

Direct material   3300

Direct labor       4000

overhead (4000*.120) 4800

Total 18400

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