Green Oak Farm Equipment is a job-order costing manufacturer that uses a plantwide overhead rate that is based on direct labour hours. Estimations for the year include $420,000 in overhead and 30,000 direct labour hours. Green Oak worked on five jobs in March. Data are as follows: $\begin{array}{lrrrrrr}&\text { Job } 89&\text { Job } 90&\text { Job } 91&\text { Job } 92&\text { Job } 93\
\text { Balance, 3/1 } & \$ 23,110 & \$ 18,240 & \$ 9,510 & \$ 0 & \$0 \
\text { Direct Materials } & 13,000 & 17,210 & 22,900 & 15,240 & 8,210 \
\text { Direct Labour cost } & 8,075 & 11,500 & 16,250 & 9,750 & 4,860 \
\text { Direct Labour Hours } & 1,615 & 2,300 & 3,250 & 1,950 & 972
\end{array}$ By March 31, Jobs 89 and 91 were completed and sold. The rest of the jobs remained in process.
A. Calculate the plantwide overhead rate.
B. Calculate the Work-in-Process Inventory on March 31.
C. Calculate the Cost of Goods Sold for March.
D. Assume Green Oak marks up cost by 40%. What is the sales price of Jobs 89 and 91?

Question

Green Oak Farm Equipment is a job-order costing manufacturer that uses a plantwide overhead rate that is based on direct labour hours. Estimations for the year include $420,000 in overhead and 30,000 direct labour hours. Green Oak worked on five jobs in March. Data are as follows: $\begin{array}{lrrrrrr}&\text { Job } 89&\text { Job } 90&\text { Job } 91&\text { Job } 92&\text { Job } 93\
\text { Balance, 3/1 } & \$ 23,110 & \$ 18,240 & \$ 9,510 & \$  0 & \$0 \
\text { Direct Materials } & 13,000 & 17,210 & 22,900 & 15,240 & 8,210 \
\text { Direct Labour cost } & 8,075 & 11,500 & 16,250 & 9,750 & 4,860 \
\text { Direct Labour Hours } & 1,615 & 2,300 & 3,250 & 1,950 & 972
\end{array}$ By March 31, Jobs 89 and 91 were completed and sold. The rest of the jobs remained in process.
A. Calculate the plantwide overhead rate.
B. Calculate the Work-in-Process Inventory on March 31.
C. Calculate the Cost of Goods Sold for March.
D. Assume Green Oak marks up cost by 40%. What is the sales price of Jobs 89 and 91?

Quizplus · Accepted Answer

The Answer of Green Oak Farm Equipment is a job-order costing manufacturer that uses a plantwide overhead rate that is based on direct labour hours. Estimations for the year include $420,000 in overhead and 30,000 direct labour hours. Green Oak worked on five jobs in March. Data are as follows: $\begin{array}{lrrrrrr}&\text { Job } 89&\text { Job } 90&\text { Job } 91&\text { Job } 92&\text { Job } 93\
\text { Balance, 3/1 } & \$ 23,110 & \$ 18,240 & \$ 9,510 & \$  0 & \$0 \
\text { Direct Materials } & 13,000 & 17,210 & 22,900 & 15,240 & 8,210 \
\text { Direct Labour cost } & 8,075 & 11,500 & 16,250 & 9,750 & 4,860 \
\text { Direct Labour Hours } & 1,615 & 2,300 & 3,250 & 1,950 & 972
\end{array}$ By March 31, Jobs 89 and 91 were completed and sold. The rest of the jobs remained in process.
A. Calculate the plantwide overhead rate.
B. Calculate the Work-in-Process Inventory on March 31.
C. Calculate the Cost of Goods Sold for March.
D. Assume Green Oak marks up cost by 40%. What is the sales price of Jobs 89 and 91?

Green Oak Farm Equipment Is a Job-Order Costing Manufacturer That