Reference no: EM136140
Lemmon Co.'s 31st March inventory of raw materials is $150,000. Raw materials buys in April are $410,000, and factory payroll cost in April is $240,000. Overhead costs incurred in April are:
Indirect materials, $27,000;
Indirect labor, $11,000;
Factory rent, $16,000;
Factory utilities, $8,000; and
Factory equipment depreciation, $19,000.
The pre-evaluated overhead rate is 75% of direct labor cost. Job 306 is sold for $390,000 cash in April. Costs of the three jobs worked on in April follow.
Job 306 Job 307 Job 308
Balances on March 31
Direct materials $15,000 $17,000
Direct labor 20,000 12,000
Applied overhead 15,000 9,000
Costs during April
Direct materials 105,000 190,000 65,000
Direct labor 42,000 60,000 130,000
Applied overhead ? ? ?
Status on April 30 Finished (sold) Finished (unsold) In process
Requirement:
Evaluate the total of each production cost incurred for April (direct materials, direct labor, and applied overhead), and the total cost related to each job (including the balances from 31st March).
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