Question

Snappy Company uses job-order costing and applies overhead costs to jobs using a pre-determined overhead rate...

Snappy Company uses job-order costing and applies overhead costs
to jobs using a pre-determined overhead rate of $12 per direct
labor hour.

During 2020, Snappy Company worked on the following jobs

                               Job #16     Job #28     Job #35
beginning cost .............    $3,500      $1,600      $2,000
direct materials used ......    $2,800      $3,700      $2,600
direct labor cost ..........    $2,000      $5,300      $3,600
direct labor hours .........    200 hours   300 hours   280 hours

By the end of 2020, Job #16 and Job #28 had been completed. Job #35
has not been completed. In addition, all the units from Job #16 have
been sold while 4,700 of the units from Job #28 were sold. Assume
Job #28 consisted of a total of 10,000 units.

Calculate Snappy Company's finished goods inventory balance at
December 31, 2020.
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Snappy Company balance of inventories are given and also their working notes

i hope it will ease your problem give like if you are satisfied with Answer

Thanks

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Br3-Pf Company uses a job-order costing system and applies overhead costs to jobs using a plant-wide...
Br3-Pf Company uses a job-order costing system and applies overhead costs to jobs using a plant-wide rate of 90% of direct materials cost. Br3-Pf Company began work on four jobs during June. Information related to the four jobs appears below: Job #1 Job #2 COSTS ADDED DURING JUNE direct materials .............. $5,800 $7,500 direct labor .................. $7,300 $6,300 Job #3 Job #4 COSTS ADDED DURING JUNE direct materials .............. $8,200 $6,400 direct labor .................. $7,920 $7,560 By the end of...
THE Company applies overhead to jobs using a pre-determined overhead rate of 70% of direct labor...
THE Company applies overhead to jobs using a pre-determined overhead rate of 70% of direct labor cost. During 2021, THE Company began work on three jobs. Information relating to these three jobs appears below: Job #1 Job #2 Job #3 direct materials ...... $39,000 $65,000 $41,000 direct labor cost ..... $54,000 $71,800 $37,300 By the end of 2021, job #1 and job #2 had been completed. Job #3 was not completed by the end of 2021. Additionally, by the end...
Jackson Company applies overhead to products using a pre determined rate of $12.10 per direct labor...
Jackson Company applies overhead to products using a pre determined rate of $12.10 per direct labor hour. During 2019, Jackson Company began work on three jobs. Information relating to these three jobs appears below: Job #359 Job #360 Job #361 direct materials ....... $98,000 $75,000 $91,000 direct labor cost ...... $95,200 $79,900 $69,700 direct labor hours ..... 5,600 4,700 4,100 By the end of 2019, job #359 and job #361 had been completed. Job #360 was not completed by the...
Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis...
Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production (not on the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $110,500 of manufacturing overhead for an estimated allocation base of $85,000 direct material dollars to be used in production. The company has provided the following data for the just completed year:         Purchase of raw materials $...
Jackson Company applies overhead to products using a pre determined rate of $12.10 per direct labor...
Jackson Company applies overhead to products using a pre determined rate of $12.10 per direct labor hour. During 2019, Jackson Company began work on three jobs. Information relating to these three jobs appears below: Job #359 Job #360 Job #361 direct materials ....... $98,000 $75,000 $91,000 direct labor cost ...... $95,200 $79,900 $69,700 direct labor hours ..... 5,600 4,700 4,100 By the end of 2019, job #359 and job #361 had been completed. Job #360 was not completed by the...
ABC Company applies overhead to products using a pre-determined overhead rate of 65% of direct labor...
ABC Company applies overhead to products using a pre-determined overhead rate of 65% of direct labor cost. During 2020, ABC Company began work on three jobs. Information relating to these three jobs appears below: Job X Job Y Job Z direct materials ....... $18,000 $27,000 $32,000 direct labor ........... $58,000 $62,000 $47,000 By the end of 2020, Job Y and Job Z had been completed. Job X was not completed by the end of 2020. Additionally, by the end of...
ABC Company applies overhead to products using a pre-determined overhead rate of 65% of direct labor...
ABC Company applies overhead to products using a pre-determined overhead rate of 65% of direct labor cost. During 2020, ABC Company began work on three jobs. Information relating to these three jobs appears below: Job X Job Y Job Z direct materials ....... $16,000 $20,000 $30,000 direct labor ........... $54,000 $79,000 $43,000 By the end of 2020, Job Y and Job Z had been completed. Job X was not completed by the end of 2020. Additionally, by the end of...
Parker Company has a job-order costing system and uses a pre-determined overhead rate based on direct...
Parker Company has a job-order costing system and uses a pre-determined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. At the beginning of the year, manufacturing overhead and direct labor hours for the year were estimated at $50,000 and 25,000 hours respectively. In June, Job #461 was started, completed, and sold to a customer. Materials cost on the job totaled $4,000, and labor costs were $5 per hour and totaled $1,500. Sales commissions incurred on...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis...
Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was...
Granite Company uses a job-order costing system. The company applies manufacturing overhead to jobs using a...
Granite Company uses a job-order costing system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor-hours. Last year, manufacturing overhead and direct labor-hours were estimated at $80,000 and 16,000 hours respectively, for the year. In June, Job #315 was completed. Materials costs on the job totaled $1,500 and labor costs totaled $2,400 at $6 per hour. At the end of the year, it was determined that the company worked 15,000 direct labor-hours for...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT