acct 212 chapter 19

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Exercise 19 4 Analysis of cost flows L.O. C2, P1, P2, P3

As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs.

 

 

Job 102

Job 103

Job 104

  Direct materials

$ 23,000  

$ 60,000  

$ 53,000  

  Direct labor

14,000  

29,000  

39,000  

  Overhead

6,860  

14,210  

19,110  


 

Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $14,000; direct labor, $3,900; and overhead, $1,911. Jobs 103 and 104 are started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 are finished in June, and Job 104 is expected to be finished in July. No raw materials are used indirectly in June. Using this information, answer the following questions. (Assume this company’s predetermined overhead rate did not change across these months).

 

1.

What is the cost of the raw materials requisitioned in June for each of the three jobs? (Omit the “$” sign in your response.)

 

 

 

  Job 102

$ 

$ 

 

 

 

 

 

 

 

 

 

 

$ 

 

 

 

 

 

 

 

 

 

 

 

 

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