A job cost sheet of Sandoval Company is given below. Job Cost Sheet Date Direct

Question

A job cost sheet of Sandoval Company is given below.

Job Cost Sheet

Date

Direct
Materials

Direct
Labor

Manufacturing
Overhead

Answer the following questions.

Date

Account Titles and Explanation

Debit

Credit

Job Cost Sheet

JOB NO. 469 Quantity 2,410 ITEM White Lion Cages Date Requested 7/2 FOR Todd Company Date Completed 7/31

Date

Direct
Materials

Direct
Labor

Manufacturing
Overhead

7/10 749 12 906 15 600 720 22 370 444 24 1,680 27 1,520 31 670 804 Cost of completed job:          Direct materials          Direct labor           Manufacturing overhead        Total cost        Unit cost

Explanation / Answer

1)Material =Material requisition slip

Labor = Time tickets

Overhead = predetermined overhead rate .

2)Overhead rate = Overhead / labor cost

                = 444 / 370 = 1.2 or 120% of direct labor cost

3)Direct material        4855          [749+906+1680+1520]

Direct labor                1640         [600+370+670]

Overhead                   1968         [1640*1.20]

Total cost   = 8463

Unit cost = 8463 /2410 = $ 3.51 per unit

entry :

Finished goods inventory    debit     8463

Work in process                credit    8463

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