Question

Current Attempt in Progress

A job cost sheet of Sandoval Company is given below.

								Job Cost Sheet
								JOB NO.		469		Quantity		2,500
								ITEM		White Lion Cages		Date Requested		7/2
								FOR		Todd Company		Date Completed		7/31
								Date		Direct Materials		Direct Labor		Manufacturing Overhead
								7/10		700
								12		900
								15				400		500
								22				300		375
								24		1,700
								27		1,550
					31				500		625

Cost of completed job:        Direct materials        Direct labor         Manufacturing overhead      Total cost      Unit cost

(1) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job?

		Source Documents
Direct materials		select the source documents                                                                      Materials requisition slipsPredetermined overhead rateTime tickets
Direct labor		select the source documents                                                                      Materials requisition slipsPredetermined overhead rateTime tickets
Manufacturing overhead		select the source documents                                                                      Materials requisition slipsPredetermined overhead rateTime tickets

(2) Overhead is applied on the basis of direct labor cost. What is the predetermined manufacturing overhead rate?

Predetermined manufacturing overhead rate

enter the predetermined manufacturing overhead rate in percentages

%

(3) What are the total cost and the unit cost of the completed job? (Round unit cost to 2 decimal places, e.g. 1.25.)

Total cost of the completed job		$enter a dollar amount
Unit cost of the completed job		$enter a dollar amount rounded to 2 decimal places

prepare the entry to record the completion of the job. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
July 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

Answer 1

1
	Source Documents
Direct materials	Materials requisition slips
Direct labor	Time tickets
Manufacturing overhead	Predetermined overhead rate
2
Predetermined manufacturing overhead rate	125%	=500/400
3
Direct materials	4850	=700+900+1700+1550
Direct labor	1200	=400+300+500
Manufacturing overhead	1500	=500+375+625
Total cost of the completed job	7550
Unit cost of the completed job	3.02	=7550/2500
4
	Debit	Credit
July 31    Finished goods inventory	7550
Work in process inventory		7550