Answered You can hire a professional tutor to get the answer.

QUESTION

I have a homework question I'm not sure if I'm doing it correctly. Below is the information from the question and my answer in bold.

Hi! I have a homework question I'm not sure if I'm doing it correctly. Below is the information from the question and my answer in bold. 

Glass Company makes glass orders based on the customer specifications, so the company uses job costing to track costs.

The company uses direct labor hours as the cost driver for manufacturing overhead application.

Manufacturing overhead costs for the year:        $600,000

Usage of direct labor hours for the year:               200,000

Beginning Work-in-process, March 1 (Job 57)      $108,000

Beginning Finished Goods, March (Job 55)           $125,000

Labor Information for March:

              Direct labor hours:          

              Job 57                                                              7,000

              Job 58                                                              6,000

              Job 59                                                              4,000

              Labor costs:

              Direct labor wages                                       $408,000

              Indirect labor wages                                    $30,000

              Supervisory salaries                                     $12,000

Material Information for March:

              Raw Materials, Inventory, March 1          $21,000

              Purchase or raw material                            $210,000

Direct material requisitioned:

              Job 57                                                              $90,000

              Job 58                                                              $75,000

              Job 59                                                              $51,000

Other costs incurred in March:

              Factory Utilities                                             $12,000

              Sales office Utilities                                      $3,200

              Administrative offices Utilities                  $2,000

              Factory equip repair & maint costs          $11,200

              Depreciation on factory equipment         $5,000

              Manufacturing supplies purch & used     $24,000

During March the following jobs were completed and sold for the following sales price:

              Job 57                                                              $400,000

              Job 58                                                              $250,000

Complete the job cost sheets provided below for the month of March:

                                            Job 57                 Job 58                 Job 59

Beginning Balance         $108,000            $0                         $0

Current Costs:

Direct materials              $90,000              $75,000              $51,000

Direct labor                      7,000                   6,000                   4,000

Applied overhead          $21,000              $18,000              $12,000

Totals                             $226,000            $99,000              $67,000

Show more
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question