Question

Dynamo Corporation uses a job order costing system. Five jobs were worked on during the current...

Dynamo Corporation uses a job order costing system. Five jobs were worked on during the current year. The predetermined overhead rate is 30% of direct labor costs. The following cost information is available (all materials and time ticket information apply to direct costs):

Job

Material Requisitions

Time Tickets

101

$91,000

$36,000

102

$67,000

$62,300

103

$47,000

$55,500

104

$35,700

$42,000

105

$39,000

$92,750

Part 1—Complete the job cost sheets for each job.

Job No. 101

Job No. 102

Job No. 103

Materials

Materials

Materials

Labor

Labor

Labor

Overhead

Overhead

Overhead

Total Cost

Total Cost

Total Cost

Status

In Process

Status

Sold

Status

Finished

Job No. 104

Job No. 105

Materials

Materials

Labor

Labor

Overhead

Overhead

Total Cost

Total Cost

Status

Sold

Status

Finished

job 101 applied overhead?

job 102 applied overhead?

job 103 total manufacturing cost, work in progress ending inventory?

total cost of goods manufactured?

Total cost of goods sold?

Homework Answers

Answer #1

Overhead = 30% of Direct Labor

Note: In the given question since sales amount are not given therefore it is not possible to find out other required answer.


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