show highlighted in yellow Job Order CostingTo keep records of the actual cost of a special order job, a Job Order Cost System has been developed.Overhead is applied at the rate of 50% of the direct labor cost.Job Order Costing SectionOn January 1, 20x2, Division S began Job 2407 for the Client, THE BIG CHILDREN STORE. Thejob called for 4,000 customized lamps. The following set of transactions occurred fromJanuary 5 until the job was completed:5-Jan Purchased 4,225 Lamp Kits @ $16.65 per kit.9-Jan 4,250 sets of Lamp Kits were requisitioned, including all those in the Beginning Inventory.17-Jan Payroll of 570 Direct Labor Hours @ $9.75 per hour.30-Jan Payroll of 620 Direct Labor Hours @ $10.00 per hour.30-Jan 3,990 lamps were completed and shipped. All materials requisitioned wereused or scrapped, and are a cost of normal processing.Month End Overhead InformationActual Variable Manufacturing OverheadActual Fixed Manufacturing OverheadCost of Direct Material Incurred in Manufacturing Job 2407Cost of Direct Labor Incurred in Manufacturing Job 2407Cost of Manufacturing Overhead Applied to Job 2407$ 1,071.00$ 39,623.45Cost of manufacturing one lampRound to two places,$##.##{13.01}{13.02}{13.03}{13.04}

Name: show highlighted in yellow Job Order CostingTo keep records of the act
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: show highlighted in yellow Job Order CostingTo keep records of the actual cost of a special order job, a Job Order Cost System has been developed.Overhead is applied at the rate of 50% of the direct labor cost.Job Order Costing SectionOn January 1, 2