A company uses a job order cost accounting system and applies overhead on the basis of direct labor cost.At the end of a recent period, the company's Goods in Process Inventory account appeared as follows:
Write in the blanks for the following:
A.The total cost of the direct materials, direct labor, and factory overhead applied in the December 31 goods in process inventory is $_______________________.
B The company's overhead application rate is __________________%
C Job No.6 had $26,550 of direct labor cost.Therefore, the job must have had $________ of direct materials cost.
D.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.At the end of a recent period, the company's Goods in Process Inventory account appeared as follows:
  Write in the blanks for the following: 
A.The total cost of the direct materials, direct labor, and factory overhead applied in the December 31 goods in process inventory is $_______________________.
B The company's overhead application rate is __________________%
C Job No.6 had $26,550 of direct labor cost.Therefore, the job must have had $________ of direct materials cost.
D.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.At the end of a recent period, the company's Goods in Process Inventory account appeared as follows:
  Write in the blanks for the following: 
A.The total cost of the direct materials, direct labor, and factory overhead applied in the December 31 goods in process inventory is $_______________________.
B The company's overhead application rate is __________________%
C Job No.6 had $26,550 of direct labor cost.Therefore, the job must have had $________ of direct materials cost.
D.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