Which of the following fees would likely to be the highest
1 answer:
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Answer:
1. Overhead rate based on direct labor cost = 65%
2. Brief job-order cost sheet for the four jobs is attached with this question please find it.
3.
Work in process = $13,356
Finished Goods = $3,434
4.
Cost of Goods Sold = $24,127
Explanation:
Job 44 Job 45
Direct materials $5,100 $1,500
Direct labor 1,200 3,000
Applied overhead 780 1,950
Balance, June 1 $7,080 $6,450
Job 44 Job 45 Job 46 Job 47
Direct materials $2,200 $7,150 $1,850 $1,700
Direct labor $900 $6,380 $960 $540
1. Over head Rate = Applied overhead / direct labor = (780/1200) x 100= 65%
3. Work in process (Job 44 & 47) = $10,765 + $2,591 = $13,356
Finished Goods (Job 46) = $3,434
4. Cost of Goods Sold (Job 45) = $24,127
