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Home > Business & Careers > Accounting   »   Job Cost Accounting

 
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Old Dec 8, 2003, 10:35 AM
Jamie_Lynn
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Job Cost Accounting

Due today at 4:30. Any help would be great, PLEASE!! :'(

1. Direct Materials requisitioned during the month:
Job 101 $15,000
Job 102 $9,000
Job 103 $18,000

2. Direct Labor incurred and charged to jobs during the month:
Job 101 $24,000
Job 102 $22,000
Job103 $15,000

3. Manufacturing overhead was applied to jobs worked on using a predetermined overhead rate based on 80% of direct labor costs.

4. Actual manufacturing overhead costs incurred during the month amounted to $52,000

5. Job 101 consisting of 1,000 units and Job 103 consisting of 50 units were completed during the month.

Questions:
1 How much manufacturing overhead was applied to Job 103 during the month?

2. Compute the unit cost of Jobs 101 and 103

3. Whast is the balance in Work In Process Inventory at the end of the month?

4. Determine whether manufacturing overhead was under or over applied during the month and the amount by which it was under or over applied.

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