147.The following data relates to the Mass Company's first operating period. Calculate the total cost of goods sold for each product.
Cost/unitUnitsOverhead rate
(Percent of
Direct Labor cost)
ProductDirect
MaterialsDirect
Labor
ProducedEnding
Inventory
A$10$1221511560%
B81533018040%
C141025020080%
148.Southwick Company uses a job order costing system. On November 1, $15,000 of direct materials and $3,500 of indirect materials were requisitioned for production. Prepare the general journal entries to record this requisition.
149.A company that uses a job order costing system incurred $10,000 of factory payroll during May. Present the May 31 entry assuming $8,000 is direct labor and $2,000 is indirect labor.
150.Time tickets for factory employees during the month of August are summarized as follows:
151.Chumley Advertising Agency contracted with a company to prepare an ad campaign. Chumley uses a job order costing system. Chumley estimates that the job will take 140 designer hours at $90 per hour and 85 staff hours at $45 per hour. Chumley uses two overhead rates in applying overhead to jobs: Designer-related at $100 per designer hour and staff-related at $50 per staff hour. Determine the total estimated cost for this job.