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Question - Gilford, Inc., uses a job-order costing system. Costs going through the company's work-in-process account during June are listed below. Manufacturing overhead is applied to production using a predetermined overhead rate based on direct labour cost.
Work in process Balance 0
$70,100 transferred out
Direct materials $24,000
Direct labour 30,000
Manufacturing overhead 36,000
Balance $19,900
Only Job 105 was still in process at the end of the month. This job had been charged with $2,300 in direct materials cost.
Required -
a) Complete the following for Job 105:
Direct materials $2,300
Direct labour Manufacturing overhead
Total cost at June 30
b) Determine the total amount of materials cost charged to completed jobs during the month.
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