23. Assume the balance in Work in Process Inventory was $18,500 on June 1 and $25,297 on June 30. The balanceon June 30 represents one job that contains direct material of $11,250. How many direct labor hours have beenworked on this job (rounded to the nearest hour)?a.751b.1,3241,653d.2,976Use the following information for questions 24-27.The following information pertains to XYZ Co. for September 2001.Overhead?Direct Material Direct Labor$ 4,5005,000Job #123$ 3,200Job #125Job #2015,670$ 5,550XYZ Co. applies overhead for Job #123 at 140 percent of direct labor cost and at 150 percent of direct laborcost for Jobs #125 and # 201. The total cost of Jobs #123 and # 125 is identical.24. What amount of overhead is applied to Job # 123?$4,800b.$5,550c.$6,300d.$7,500a.25. What amount of overhead is applied to Job #125?$7,500$8,325b.$7,000d.$5,000a.с.26. What is the amount of direct material for to Job #125?b.a.$1,950$1,500C.$3,700d.$7,50027. Assume that Jobs #123 and #201 are incomplete at the end of September. What is the balance in Work inProcess Inventory at that time?b.a.$18,920$22,620$28,920d.$30,120Use the following information for questions 28 and 29.Zew Co. has a job order costing system and an overhead application rate of 120 percent of direct laborcost. Job # 33 is charged with direct material of $12,000 and overhead of $7,200. Job #34 has direct material of$2,000 and direct labor of $9,000.28. What amount of direct labor cost has been charged to Job #33?a.$6,000b.$8,640C.$7,200d.$14,40029. What is the total cost of Job # 34?$30,200b.$21,800C.$11,000d.$10,800Page 3 of 3

Note: Since you have asked multiple questions with multiple sub-parts, we will solve the first three…

Use the following information for questions 24-27. The following information pertains to XYz Co. for September 2001. Overhead Direct Material Direct Labor $ 4,500 5,000 ? Job #123 $ 3,200 Job #125 ? $ 5,550 Job #201 XYZ Co. applies overhead for Job #123 at 140 percent of direct labor cost and at 150 percent of direct labor 5,670 cost for Jobs #125 and # 201. The total cost of Jobs #123 and #125 is identical. 24. What amount of overhead is applied to Job # 123? b. a. $4,800 $5,550 C. $6,300 d. $7,500 25. What amount of overhead is applied to Job # 125? b. a. $8,325 $7,500 C. $7,000 d. $5,000 26. What is the amount of direct material for to Job #125? b. $1,950 $1,500 C. $3,700 d. $7,500

Use the following information for questions 24-27. The following information pertains to XYz Co. for September 2001. Overhead Direct Material Direct Labor $ 4,500 5,000 ? Job #123 $ 3,200 Job #125 ? $ 5,550 Job #201 XYZ Co. applies overhead for Job #123 at 140 percent of direct labor cost and at 150 percent of direct labor 5,670 cost for Jobs #125 and # 201. The total cost of Jobs #123 and #125 is identical. 24. What amount of overhead is applied to Job # 123? b. a. $4,800 $5,550 C. $6,300 d. $7,500 25. What amount of overhead is applied to Job # 125? b. a. $8,325 $7,500 C. $7,000 d. $5,000 26. What is the amount of direct material for to Job #125? b. $1,950 $1,500 C. $3,700 d. $7,500

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter5: Product And Service Costing: Job-order System

Section: Chapter Questions

Problem 21E: Lorrimer Company has a job-order cost system. The following debits (credits) appeared in the...

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