62) Under a job order cost system, costs are accumulated for: A) Each batch of p
ID: 2599706 • Letter: 6
Question
62) Under a job order cost system, costs are accumulated for: A) Each batch of production, known as a job or lot. B) Each individual unit produced. C) Each job supervisor D) Each department in the production cycle. 63) Alhoe Compamy produces metal belts. During the current month, the company incurred the following product costs Raw materials $100,000 Direct labor $75,000 Electricity used in the Factory $25,.000 Factory foreperson salary $3.750 Maintenance of factory machinery $2,000 Aliton Company's total product costs: A) $28,750 B) $205,750. C) $175,000. D) $30.750. ) During the current year, Jules Company incurred the following product costs: Direct materials used in production $250,000 Direct labor $185,000 Manufacturing overhead $245,500 ules Company' s beginning Work in Process Inventory was $20,000 and its ending Work in Process $30,000. What is the company's cost of finished goods manufactured for the year? A) 5670,500 B) $430,500 C) $700,500. D) $690,500. A-10Explanation / Answer
62). Answer is A that is each batch of production known as a job or lot. Job order costing or job costing is a system for assigning manufacturing costs to an individual product or batches of products. Generally, the job order costing system is used only when the products manufactured are sufficiently different from each other.
63). Answer is B. Add= 100,000+75,000+25,000+3,750+2,000= 205,750.
64). Answer is D
Add= 250,000+185,000+245,500-20,000+30,000= 690,500
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