Exercise 203 Your answer is partially correct Try again A jo

Exercise 20-3 Your answer is partially correct. Try again A job order cost sheet for Ryan Company is shown below Job No. 92 For 2,000 Units Direct Materials Labor Direct Manufacturing Date Overhead Beg. bal an. 1 8 12 25 27 5,2006,140 4,298 6,140 9,600 7,200 2,700 4,000 14,040 19,740 3,000 14,498 Cost of completed job: Direct materials Direct labor Manufacturing overhead $14,040 19,740 14,498 $48,278 $24.14 Total cost Unit cost ($48,2782,000) (a) On the basis of the foregoing data, answer the following questions

Solution

overhead rate last year 4298/6140= 70% current year 7,200/9,600= 75% Date Account titles & Explanations Debit Credit 31-Jan Work in process inventory 13600 Factory labor 13,600