Question: jenkins company uses a job order cost system with overhead...
Jenkins Company uses a job order cost system with overhead
applied to jobs on the basis of direct labor hours. The direct
labor rate is $20 per hour, and the predetermined overhead rate is
$15 per direct labor hour. The company worked on three jobs during
April. Jobs A and B were in process at the beginning of April. Job
A was completed and delivered to the customer. Job B was completed
during April, but not sold. Job C was started during April, but not
completed. The job cost sheets revealed the following costs for
|Job A||Job B||Job C|
|Cost of Jobs in Process, 4/1/2016||$||12,300||$||1,000||$||—|
|Direct Materials Used||2,300||8,600||9,900|
|Applied Manufacturing Overhead||?||?||?|
If no other jobs were started, completed, or sold, determine the balance in each of the following accounts at the end of April:
a.Work in Process $?
b.Finished Goods $?
c.Cost of Goods Sold $?