Stutz, Inc. designs and builds basketball gymnasiums. Each gymnasium is custom-built to individual customers’ specifications. Stutz uses job-order costing to keep track of its costs. In February it worked on three jobs. Data for these jobs are as follows: Job 175 Job 178 Job 179 Balance 2/1 $13,790 $ 0 $0 Direct Materials 16,200 8,500 30,500 Direct Labor Cost 23,300 7,600 45,000 Machine Hours 400hrs. 300hrs. 2,000hrs. Overhead is applied to jobs at the rate of $25 per machine hour. By February 28, Job 178 is the only one unfinished. The balance of Finished Goods on February 1 is $94,000 (consisting of Job 177). Jobs 177 and 179 are sold during February. Stutz sells its product at cost plus 40%.Calculate the balance in Work-in-Process on February 28.

Stutz, Inc. designs and builds basketball gymnasiums. Each gymnasium is custom-built to individual customers’ specifications. Stutz uses job-order costing to keep track of its costs. In February it...

Stutz, Inc. designs and builds basketball gymnasiums. Each gymnasium is custom-built to individual customers’ specifications. Stutz uses job-order costing to keep track of its costs. In February it worked on three jobs. Data for these jobs are as follows:

	Job 175	Job 178	Job 179
Balance 2/1	$13,790	$ 0	$0
Direct Materials	16,200	8,500	30,500
Direct Labor Cost	23,300	7,600	45,000
Machine Hours	400hrs.	300hrs.	2,000hrs.

Overhead is applied to jobs at the rate of $25 per machine hour. By February 28, Job 178 is the only one unfinished. The balance of Finished Goods on February 1 is $94,000 (consisting of Job 177). Jobs 177 and 179 are sold during February. Stutz sells its product at cost plus 40%.

Calculate the balance in Work-in-Process on February 28.

Jun 09, 2022

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Stutz, Inc. designs and builds basketball gymnasiums. Each gymnasium is custom-built to individual customers’ specifications. Stutz uses job-order costing to keep track of its costs. In February it...

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