Part 3- MMM Mig is a job-order costing manufacturer that uses a plantwide overhc

Question

Part 3- MMM Mig is a job-order costing manufacturer that uses a plantwide overhcad rate based on direct labor hours. Estimations for the year inclade $420,000 in Overhcad and 30,000 direct labor hours. MMM worked on five jobs in March. Data are as follows $23,110 $18,240 $9,510S0$ 13,000 17.210 22,900 15,240 8,210 8075 11,500 16.250 9,750 4,860 Hala Direct Labor cost Direct Labor Hours 950 The plantwide rate for overhead is $14 completed and sold. The rest of the jobs remained in process per direct labour hour. By March 31, Jobs 89 and 91 were a) Calculate the Work-in-Process on March 31.(3 marks) b) Calculate the cost of goods sold for job 91. (2 marks)

Explanation / Answer

Calculate following :

Calculate Work in process :

Work in process = (79150+52290+26678) = 158118

Calculate cost of goods sold

Cost of goods sold = (66795+94160) = 160955

Job 89 Job 90 Job 91 Job 92 Job 93 Balance 3/1 23110 18240 9510 0 0 Direct material 13000 17210 22900 15240 8210 Direct labour cost 8075 11500 16250 9750 4860 Overhead 22610 32200 45500 27300 13608 Total 66795 79150 94160 52290 26678

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