A company uses a job order cost accounting system and applies overhead on the basis of direct labor cost.A summary of the company's Goods in Process Inventory account for December appears below.
Fill in the blanks for the following:
(1)The total cost of the direct materials,direct labor,and factory overhead applied in the December 31 goods in process inventory is $_______________________.
(2)The company's overhead application rate is __________________%
(3)Job No.6 had $26,550 of direct labor cost.Therefore,the job must have had $________ of direct materials cost.
(4)Job No.8 had $73,998 of direct materials cost.Therefore,the job must have had $________ of factory overhead cost.

Question

A company uses a job order cost accounting system and applies overhead on the basis of direct labor cost.A summary of the company's Goods in Process Inventory account for December appears below.
  Fill in the blanks for the following:
(1)The total cost of the direct materials,direct labor,and factory overhead applied in the December 31 goods in process inventory is $_______________________.
(2)The company's overhead application rate is __________________%
(3)Job No.6 had $26,550 of direct labor cost.Therefore,the job must have had $________ of direct materials cost.
(4)Job No.8 had $73,998 of direct materials cost.Therefore,the job must have had $________ of factory overhead cost.

Quizplus · Accepted Answer

The Answer of A company uses a job order cost accounting system and applies overhead on the basis of direct labor cost.A summary of the company's Goods in Process Inventory account for December appears below.
  Fill in the blanks for the following:
(1)The total cost of the direct materials,direct labor,and factory overhead applied in the December 31 goods in process inventory is $_______________________.
(2)The company's overhead application rate is __________________%
(3)Job No.6 had $26,550 of direct labor cost.Therefore,the job must have had $________ of direct materials cost.
(4)Job No.8 had $73,998 of direct materials cost.Therefore,the job must have had $________ of factory overhead cost.

A Company Uses a Job Order Cost Accounting System and Applies