Answer:
Job 877 878 879 880
Beginning 18,640
Materials 14,460 6,000 3,500 1,800
Labor 14,800 8,500 1,750 2,150
<em><u>Overhead 11,840 6,800 1,400 1,720 </u></em>
Total 59,740 21,300 6,650 5,670
WIP 21300 + 6650 + 5670 = 33,620
Job 877 59,740 x (1 + 50%) = 89610
Explanation:
The overhead will be calcualte as 80% of the labor cost as tstated in the assignment
Then, the total cost will be the sum of the three cost component added during the period andthe beginnign WIP is there is any,
as job 877 is complete it will be removed from WIP leaving only the other three jobs.
the markup is 50% of the cost so we simply multiply cost by 1.5
