Question
Stock Co. uses a job costing system. The following debits (credits) appeared in Stock's work-in-process account...
Stock Co. uses a job
costing system. The following debits (credits) appeared in Stock's
work-in-process account for the month of April:
| April | Description | Amount | |||
| 1 | Balance | $ | 4,000 | ||
| 30 | Direct materials | 24,000 | |||
| 30 | Direct labor | 16,000 | |||
| 30 | Factory overhead | 12,800 | |||
| 30 | To finished goods | (48,000 | ) | ||
Stock applies overhead to production at a predetermined rate of 80% of direct labor cost. Job No. 5, the only job still in process on April 30 has been charged with direct labor of $2,000. What was the amount of direct materials charged to Job No. 5? (CPA adapted)
Multiple Choice
-
$5,200.
-
$24,000.
-
$3,000.
-
$8,800.
Homework Answers
Answer #1
Your required answer is option A i.e. $5200
Explanation:
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