4 25 Job Order Costing Section 26 27 On January 1, 20x2, Division S began Job 2407 for the Client, THE BIG CHILDREN STORE. The 28 job called for 4,000 customized lamps. The following set of transactions occurred from 33 January 5 until the job was completed: 34 5-Jan Purchased 4.000 Lamp Kits @ $16.65 per kit 9-Jan 4,050 sets of Lamp Kits were requisitioned, including all those in the Beginning Inventory 17-Jan Payroll of 580 Direct Labor Hours @ $9.80 per hour 30-Jan Payroll of 630 Direct Labor Hours @ $10.05 per hour. 30-Jan 3,990 lamps were completed and shipped. All materials requisitioned were used or scrapped, and are a cost of normal processing Month End Overhead Information Actual Variable Manufacturing Overhead Actual Fixed Manufacturing Overhead $ 1,476 20 $ 39,873.45 + Introduction FAQ 1 2 11 12 Type here to search 596 ABCD Round to two places. S ** Cost of Direct Material incurred in Manufacturing Job 2407 (1301) Cost of Direct Labor Incurred in Manufacturing Job 2407 {13.02) Cost of Manufacturing Overhead Applied to Job 2407 {13.03} Cost of manufacturing one lamp {13.04 FAQ |1 2 11 12 13 Type here to search A B C D E F G H I J K 1 No 26 Month of January 27 28 Selected information for January is presented below. Note that the applied overhead rate was 29 50% of direct labor costs in the molding department 33 34 Molding Department 35 36 Goods in-process as of January 1 were 3,300 figurines at a cost of $53.790.00. Of this amount, $52,800.00 was from 39 raw materials added, 5660.00 for labor and $330.00 for overhead. These 3,300 figurines were assumed to be 40 10.00% complete as to labor and overhead. 42 During January, 23,000 units were started, $370,530.00 of materials and $46,340.00 of labor costs were incurred. 46 The 7,000 figurines that were in-process at the end of January were assumed to be 60.00% complete to 47 labor and overhead. 48 49 All figurines in January passed inspection Introduction FAQ 1 2 11 12 13 Tvne here to search T OBA 2a 9 January 8 MOLDING 13 Physical Flow of Units 1200 3300 units 23 000 units 26.300 units (12.02 15 Work-in-Process - Beginning 16 Units Started this Period 17 Units to Account for 21 22 Total transferred out 23 Work-in-Process - Ending 24 Total Accounted for 19,300 units 2000 units 26.300 units 12.03) 12.04 {12.05) 37 Equivalent Units Material (Round to three places. . . ) 26 300 00 units (1206) Introduction FAQ 1 2 11 100 Type here to search ( 21 3:50 PM /21/2020 46 Equivalent Units Conversion (Round to three places ######## 23,500.00 units 12.02} Beginning Inventory (Round to two places, #,###) 3.790 00 (12.08) Total cost of Material this period (Round to two places, 88.8.##) 370,630.00 (1209) FAQ 12 11 12 13 2 do 351 PM 4/28/2020 Type here to search 73 78 Total cost of Conversion this period (Round to two places, 88. 69 510 00 (12.10 Total cost to account for (Round to two places, #. . 93 830.00 (1211) Cost per equivalent unit of Material this period (Round to seven places, 16.0961977 1212 Cost per equivalent unit of Conversion this period (Round to seven places, M . A NNO 3.0000000 (1213) duction FAQ 1 | 2 | 11 12 13 3:51 Type here to search 97 99 Cost of the units transferred, material and convesion (Round to two places, S . ) 368 556 62112214 101 102 103 105 M N) 125 273.38 {12.15) 106 107 Cost of the ending inventory, material and convesion (Round to two places, SMN 108 109 110 Total Cost accounted for (Round to two places, $800 (1215) 112 113 115 116 Introduction FAQ 1 2 11 12 13 3:51 PM 2 Type here to search 1720/2020 24 25 Job Order Costing Section 27 On January 1, 20x2, Division S began Job 2407 for the Client, THE BIG CHILDREN STORE. The 28 job called for 4,000 customized lamps. The following set of transactions occurred from 33 January 5 until the job was completed: 34 5-Jan Purchased 4,000 Lamp Kits @ $16.65 per kit. 9-Jan 4,050 sets of Lamp Kts were requisitioned including all those in the Beginning Inventory. 17-Jan Payroll of 580 Direct Labor Hours @ $9.80 per hour. 30-Jan Payroll of 630 Direct Labor Hours @ $10.05 per hour. 30-Jan 3,990 lamps were completed and shipped. All materials requisitioned were used or scrapped, and are a cost of normal processing. Month End Overhead Information Actual Variable Manufacturing Overhead Actual Fixed Manufacturing Overhead $ 1,476.20 $ 39,873.45 Round to two Introduction FAQ | 12 11 cy Round to two places, S##.## Cost of Direct Material Incurred in Manufacturing Job 2407 {13.01) Cost of Direct Labor Incurred in Manufacturing Job 2407 Cost of manufacturing one lamp {13.04) Introduction FAQ 1 2 11 12 13 0 Type here to search {13.01} Cost of Direct Labor Incurred in Manufacturing Job 2407 {13.02) Cost of Manufacturing Overhead Applied to Job 2407 {{13.02) Cost of Manufacturing Overhead Applied to Job 2407 {13.03} Cost of manufacturing one lamp