The following selected data were taken from the books of the Bixby Box Company.
The company uses job costing to account for manufacturing costs.
The data relate to June operations.
A) Materials and supplies were requisitioned from the stores clerk as follows:
Job 405, material X, $7,000. Job 406, material X, $3,000; material Y, $6,000. Job 407, material X, $7,000; material Y, $3,200.
For general factory use:
materials A, B, and C, $2,300.
B) Time tickets for the month were chargeable as follows:
Job 405 $11,000 3,000 hours Job 406 $14,000 3,600 hours Job 407 $ 8,000 1,900 hours Indirect labor $ 3,700
C) Other information:
Factory paychecks for $35,200 were issued during the month. Various factory overhead charges of $19,400 were incurred on account.
Depreciation of factory equipment for the month was $5,400.
Factory overhead was applied to jobs at the rate of $3.50 per direct labor hour.
Job orders completed during the month:
Job 405 and Job 406. Selling and administrative costs were $2,100 76.
• If Job 406 were sold on account for $41,500 how much gross profit would be recognized?
A) $ 3,800
B) $ 5,900
C) $18,500
D) $35,600
E) some other answer
•The cost assigned to the Work-in-Process Inventory on the June 30 balance sheet would be
A) $18,200.
B) $24,850.
C) $64,100.
D) $88,950.
E) Some other answe
•The balance in the factory overhead account would represent the fact that overhead was
A) $1,050 underapplied
B) $3,150 underapplied
C) $1,250 overapplied
D) $4,350 overapplied
E) some other answer