Griswold Corporation is a job-order costing company that uses activity-based costing to apply overhead to jobs. The following overhead activities were budgeted for the year.
$\begin{array}{|l|l|l|c|}
\hline \text { Activity } & \text { Cost } & \text { Driver } & \text { Amount of driver } \
\hline \text { Setups } & \$ 240,000 & \text { number of setups } & 6,000 \
\hline \text { Purchasing } & 160,000 & \text { number of parts } & 20,000 \
\hline \text { Other overhead } & 300,000 & \text { direct labour hours } & 80,000 \
\hline
\end{array}$
The following information about the jobs was given for September. $\begin{array}{|l|r|r|r|r|}
\hline & \text { Job 101 } & \text { Job 102 } & \text { Job 103 } & \text { Job 104 } \
\hline \text { Balance 9/1 } & \$ 64,900 & \$ 40,770 & \$ 30,500 & 0 \
\hline \text { Direct materials } & 54,000 & 37,900 & 25,000 & 11,000 \
\hline \text { Direct labour } & 80,000 & 38,500 & 43,000 & 21,000 \
\hline \text { Number of setups } & 40 & 10 & 30 & 200 \
\hline \text { Number of parts } & 300 & 80 & 400 & 500 \
\hline \text { Direct labour hours } & 5,000 & 2,400 & 5,200 & 1,200 \
\hline
\end{array}$
By September 30, Jobs 102 and 103 were completed and sold. The remaining jobs were still in process.
-Refer to the figure.The cost of goods sold would consist of the costs of what jobs?

Question

Quizplus · Accepted Answer

The cost of goods sold (COGS) would consist of the costs of jobs that were completed and sold by September 30. According to the information provided, only Jobs 102 and 103 were completed and sold by that date. Therefore, the COGS would include the costs associated with Jobs 102 and 103 only.

Griswold Corporation Is a Job-Order Costing Company That Uses Activity-Based