Job cost cards for the current are listed at the right. Overhead costs are calcu

Question

Job cost cards for the current are listed at the right. Overhead costs are calculated at 140% of the direct labor cost. Solve for the WIP balances for the individual jobs and the monthly total. Job Order Cards in Process at the End of Month Job # Direct Labor Direct Materials Overhead Total Quantity Unit Cost 123 $1,500 $1,500 456 $2,000 $2,000 789 $1,800 $2,500 The following are the quantities produced for each job. Job #123, 1000; Job #456, 700; Job #789, 1200; Job #1010, 500; and Job #1213, 800. Calculate the cost per unit for all these jobs. 1011 $3,000 $2,250 1213 $5,000 $3,200 Monthly Total Complete the grey areas. Job cost cards for the current are listed at the right. Overhead costs are calculated at 140% of the direct labor cost. Solve for the WIP balances for the individual jobs and the monthly total. Job Order Cards in Process at the End of Month Job # Direct Labor Direct Materials Overhead Total Quantity Unit Cost 123 $1,500 $1,500 456 $2,000 $2,000 789 $1,800 $2,500 The following are the quantities produced for each job. Job #123, 1000; Job #456, 700; Job #789, 1200; Job #1010, 500; and Job #1213, 800. Calculate the cost per unit for all these jobs. 1011 $3,000 $2,250 1213 $5,000 $3,200 Monthly Total Complete the grey areas.

Explanation / Answer

Calculate the cost per unit for all these jobs.

Job Direct labour Direct material Overhead Total Quantity Unit cost 123 1500 1500 2100 5100 1000 5.10 456 2000 2000 2800 6800 700 9.71 789 1800 2500 2520 6820 1200 5.68 1011 3000 2250 4200 9450 500 18.90 1213 5000 3200 7000 15200 800 19.00 Monthly Total 13300 11450 18620 43370

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