Respuesta :
Answer and Explanation:
As per the data given in the question, the calculation and journal entry is given below:
1)
Source documents for direct material is Material requisition slip, For direct labor is time tickets and for manufacturing overhead cost is predetermined overhead rate.
2)
Predetermined manufacturing overhead rate = 500 ÷ 400
= 1.25
= 125%
Hence, Predetermined overhead rate is 125% of labor cost.
3)
Total cost :
Direct material $4875 ($800 + $900 + $1600 + $1575)
Direct labor $1,300 ($400 + $300 + $600)
Manufacturing overhead $1,625 ($500 + $375 + $750)
Total cost $7,800 ($4875 + $1300 + $1625)
Now
Unit cost = Total cost ÷ Quantity
=$7,800 ÷ 2,500
= $3.12
4) The journal entry is
Finished goods inventory A/c Dr. $7,800
To Work in process inventory Cr. $7,800
(Being the completion of the job is recorded)
1. The source documents for each of the following is as follows:
- direct material: the material requisition slip.
- direct labor: time tickets.
- manufacturing overhead costs: the predetermined overhead rate.
2. The predetermined manufacturing overhead rate is 125% of the direct labor cost.
Computation:
[tex]\text{Predetermined Overhead rate}=\dfrac{\text{Manufacturing overhead cost}}{\text{Direct labor cost}}\times100\\\\=\dfrac{\$500}{\$400}\times100\\\\=125\%\;\text{of direct labor cost}[/tex]
3. The total cost of the completed job is $7,800, while the unit cost is $3.12.
Computation:
The total cost of the completed job is shown in the image attached below.
The unit cost is computed as follows:
[tex]\text{Unit Cost}=\dfrac{\text{Total Cost}}{\text{Total Quantity}}\\\\=\dfrac{\$7,800}{2,500}\\\\=\$3.12[/tex]
4. The journal entry to record the completion of the job is attached in the image below:
To know more about job costing, refer to the link:
https://brainly.com/question/15864934
