Exercise 156 A job cost sheet of Sandoval Company is given b

Exercise 15-6 A job cost sheet of Sandoval Company is given below Job Cost Sheet 469 Quantity 2,420 NO. Date EM Lion Requested 212 Cages Todd Date FOR 7131 Company Completed Direct Direct Manufacturing Date Materials Labor Overhead 7/10734 12 928 15 527 319 659 399 241,700 271,540 31 630 788 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost Your answer is partially correct. Try again. Answer the following questions. (1) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job? Source Documents Direct materials Direct labor Manufacturing overhead Predetermined overhead rate (2) What is the predetermined manufacturing overhead rate? (Round answer to 0 decimal place, e.g 135.) Predetermined manufacturing overhead rate Materials requisition slips Time tickets 1.21 (3) What are the total cost and the unit cost of the completed job? (Round unit cost to 2 decimal places, e.g. 1.25.) Total cost of the completed job Unit cost of the completed job 8224 3.28

Solution

2.pre determined manufacturing overhead = overhead amount / direct labour *100

since overhead is incurred along with direct labour, it can be said that overhead is expressed as a percentage of direct labour

=>(527 + 319 +630) / (659 + 399 +788) / (527 +319 + 630)*100

=> 1846/ 1476 *100

=>125%....(rounded off to 0 decimals)

3.total cost of completed job =>$8224 (given)

unit cost of completed job =total cost / total units=> $8224 / 2420 units

=>$3.40 per unit.

4. the following is the required journal entry:

date	General journal	Debit	credit
july 31	Finished goods journal entry	$8224
	..............To work in process inventory		$8224