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Question - Reider Company is a job-order costing firm that uses activity-based costing to apply overhead to jobs. Reider identified three overhead activities and related drivers. Budgeted information for the year is as follows:
Activity
Cost
Driver
Amount of Driver
Materials handling
$47,000
Number of moves
2,000
Engineering
136,000
Number of change orders
8,500
Other overhead
229,500
Direct labor hours
45,000
Reider worked on four jobs in July. Data are as follows:
Job 13-43
Job 13-44
Job 13-45
Job 13-46
Beginning balance
$22,400
$19,600
$3,200
$0
Direct materials
$5,800
$9,800
$11,400
$8,400
Direct labor cost
$850
$1,060
$1,570
$140
45
46
27
7
30
41
24
850
1,060
1,570
140
By July 31, Jobs 13-43 and 13-44 were completed and sold. Jobs 13-45 and 13-46 were still in process.
Required -
1. Calculate the activity rates for each of the three overhead activities.
2. Prepare job-order cost sheets for each job showing all costs through July 31.
3. Calculate the balance in Work in Process on July 31.
4. Calculate the cost of goods sold for July.
5. What if Job 13-46 required no engineering change orders? What is the difference in the new cost of Job 13-46?
How would the cost of the other jobs be affected?
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