Kapoor Catering Co. uses a job cost system. Its activities in November 2020, the first month of operation, were as follows: Information State University On-the-Go Home Precious Pre-school Direct Materials Cost (food) $53,000 $36,900 $81,800 Direct Labor Cost $44,600 $40,700 $53,600 Labor Hours 2,920 3,510 4,160   The company applies overhead at a rate of $16.00 per labor hour. It completed all of its jobs in November. Total revenue for the three jobs amounted to $392,700. The actual overhead for the month was $147,400, of which $122,000 should be credited to accounts payable and $38,000 should be credited to Accumulated Depreciation. Determine the costs that should be assigned to each of the jobs.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Kapoor Catering Co. uses a job cost system. Its activities in November 2020, the first month of operation, were as follows:

Information State University On-the-Go Home Precious Pre-school
Direct Materials Cost (food) $53,000 $36,900 $81,800
Direct Labor Cost $44,600 $40,700 $53,600
Labor Hours 2,920 3,510 4,160

 

The company applies overhead at a rate of $16.00 per labor hour. It completed all of its jobs in November. Total revenue for the three jobs amounted to $392,700. The actual overhead for the month was $147,400, of which $122,000 should be credited to accounts payable and $38,000 should be credited to Accumulated Depreciation.

Determine the costs that should be assigned to each of the jobs.

 

Direct Materials
Direct Labor
Applied Overhead
Total Job Cost
State University On-the-Go Home Precious Pre-school TOTAL
Manufacturing Overhead
Transcribed Image Text:Direct Materials Direct Labor Applied Overhead Total Job Cost State University On-the-Go Home Precious Pre-school TOTAL Manufacturing Overhead
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