Job 201 Job 202 Job 203 Job 204
Direct Materials $3.590 $2.000 $1.480 $2.000
Direct Labor 2.700 1.500 1.000 1.200
Applied FOH 2.160 1.200 800 960
Total $8.450 $4.700 $3.280 $4.160
Job status Finished In process In process In process
On April 30 Finished Goods only jobs 204 and 207 with total cost as follows:
Job 204 Job 207
Job 204 Job 207
Direct Materials $2.970 $2.450
Direct Labor 2.200 1.900
Applied FOH 1.760 1.520
Total $6.930 $5.870In addition to doing the job 204 and 207 Tollhouse do the job 202 and 203 and start the job 205 and 206. DM consumption data for the job and DL 202 203 205 and 206 during the month of April is as follows:
Job 202 Job 203 Job 205 Job 206
Direct Materials $1.250 $555 $2.500 $1.980
Direct Labor 100 75 105 50
Other Information:
(A) On April 30 jobs are still in the process of 203 and 206.
(B) All workers paid $ 20 per hour. Stable wage rates throughout the year.
(C) Tollhouse create only one account of raw material (Material Control) for direct materials and indirect materials. Balance as of April 1 $ 2750.
(D) All sales of 150% of the total cost.
(E) other items in April: Depreciation factory equipment $ 1375
Raw materials purchased 11500
Indirect labor 2500
Factory rent and utilities 2700
Indirect materials Used 2790
Requested:
(1) Calculate the ending balance for the Material Control and WIP.
(2) Create a verse journal required for job 202.
(3) Calculate COGM (no need to make a statement of COGM)
(4) Calculate the over or under applied.
(5) Calculate the gross profit.