Turco Products uses a job order cost system. The following debits (credits) appe

Question

Turco Products uses a job order cost system. The following debits (credits) appeared in Work-in-Process Inventory for September: Description Amount September 1 Balance $ 27,400 For the month Direct materials 162,500 For the month Direct labor 101,000 For the month Factory overhead 77,770 For the month To finished goods ( 318,700 ) Turco applies overhead to production at a predetermined rate of 77 percent based on direct labor cost. Job 9-27, the only job still in process at the end of September, has been charged direct labor of $13,100. Required: What cost amount of direct materials was charged to Job 9-27?

Explanation / Answer

Total cost of ending work in process = (27400+162500+101000+77770)-318700= 49970 Cost of direct materials = 49970-13100-(13100*77%)= 26783

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