Question
Barefoot Running Company's work in process inventory on June 1 has a balance of $22,700 representing...
Barefoot Running Company's work in process inventory on June 1 has a balance of $22,700 representing Job No. 265. During June, $50,100 of direct materials were requisitioned for Job No. 265 and $35,900 of direct labor cost was incurred on Job No. 265. Manufacturing overhead is allocated at 115% of direct labor cost. Actual manufacturing overhead costs incurred in June amounted to $41,300. No new jobs were started during June. Job No. 265 is completed on June 28. What is the total cost assigned to Job No. 265?
Answers
Total cost assigned to Job no 265= $149,985
Beginning work in process
$ 22,700.00
Add: Cost added during the period
Direct material
$ 50,100.00
Direct labor
$ 35,900.00
Manufacturing overheads applied
$ 41,285.00
Total Current cost added
$ 1,27,285.00
Total Cost applied to job no 265
$ 1,49,985.00
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