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Meyer Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A was completed and delivered to the customer. Job B was completed during April, but not sold. Job C was started during April, but not completed. The job cost sheets revealed the following costs for April: |
| Job A | Job B | Job C | |||||||
| Cost of Jobs in Process, 4/1/2013 | $ | 11,600 | $ | 1,200 | $ | ” | |||
| Direct Materials Used | 1,600 | 7,200 | 7,800 | ||||||
| Direct Labor | 9,200 | 7,200 | 2,600 | ||||||
| Applied Manufacturing Overhead | ? | ? | ? | ||||||
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| Required: | |
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If no other jobs were started, completed, or sold, determine the balance in each of the following accounts at the end of April: |
a. Work in Process____ b. Finished Goods_____ c. COGS_____