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Haslett corporation uses standard costs with its job order

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Haslett Corporation uses standard costs with its job order cost accounting system. In January, an order (Job No. 12) for 1,100 units of Product B was received. The standard cost of one unit of Product B is as follows.

Direct materials
2 pounds at $1.00 per pound
$ 2.00
Direct labor
1.50 hour at $10 per hour
15.00
Overhead
2 hours (variable $4.00 per machine hour; fixed $3.00 per machine hour)
14.00
Standard cost per unit


$31.00

Normal capacity for the month was 4,290 machine hours. During January, the following transactions applicable to Job No. 12 occurred.

1.
Purchased 2,387 pounds of raw materials on account at $1.08 per pound.
2.
Requisitioned 2,387 pounds of raw materials for Job No. 12.
3.
Incurred 1,716 hours of direct labor at a rate of $9.89 per hour.
4.
Worked 1,716 hours of direct labor on Job No. 12.
5.
Incurred manufacturing overhead on account $33,260.
6.
Applied overhead to Job No. 12 on basis of standard machine hours allowed.
7.
Completed Job No. 12.
8.

Billed customer for Job No. 12 at a selling price of $99,000.

Journalize the transactions.

Reference no: EM13571592

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