A company uses a job order costing system and applies overhead on the basis of direct labor cost.A summary of the company's Work in Process Inventory account for December appears below.
Work In Process
Fill in the blanks for the following:
(1)The total cost of the direct materials,direct labor,and factory overhead for jobs still in progress 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 costing system and applies overhead on the basis of direct labor cost.A summary of the company's Work in Process Inventory account for December appears below.
Work In Process
  Fill in the blanks for the following:
(1)The total cost of the direct materials,direct labor,and factory overhead for jobs still in progress 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 costing system and applies overhead on the basis of direct labor cost.A summary of the company's Work in Process Inventory account for December appears below.
Work In Process
  Fill in the blanks for the following:
(1)The total cost of the direct materials,direct labor,and factory overhead for jobs still in progress 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 Costing System and Applies