Figure 5-5
Tonneau Corporation had the following information available for October 2016:
Work in Process, October 1 $20,000
Materials placed into production, October 27,500
Direct labor, October 37,500
Factory overhead rate is 150 percent of direct labor costs. Job cost sheets had the following balances:
Jobs Z3 and Z4 were not completed at the end of December.
-Refer to Figure 5-5. What is the balance in Work-in-Process for Tonneau at the end of October?

Question

Figure 5-5
Tonneau Corporation had the following information available for October 2016:
Work in Process, October 1 $20,000
Materials placed into production, October 27,500
Direct labor, October 37,500
Factory overhead rate is 150 percent of direct labor costs. Job cost sheets had the following balances:
  Jobs Z3 and Z4 were not completed at the end of December.
-Refer to Figure 5-5. What is the balance in Work-in-Process for Tonneau at the end of October?

Quizplus · Accepted Answer

The Answer of Figure 5-5
Tonneau Corporation had the following information available for October 2016:
Work in Process, October 1 $20,000
Materials placed into production, October 27,500
Direct labor, October 37,500
Factory overhead rate is 150 percent of direct labor costs. Job cost sheets had the following balances:
  Jobs Z3 and Z4 were not completed at the end of December.
-Refer to Figure 5-5. What is the balance in Work-in-Process for Tonneau at the end of October?

Figure 5-5 Tonneau Corporation Had the Following Information Available for October 2016