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Fall 2018 ACCT 3377 jobs. The following overhead activities were budgeted for the year Cost...

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Accounting

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Fall 2018 ACCT 3377 jobs. The following overhead activities were budgeted for the year Cost $120,000 1. Highland Co. is a job-order-costing company that uses activity-based costing to apply overhead to Amount of driver Driver number of setups number of parts direct labor hours 6,000 20,000 75,000 Activity $80,000 purchasing other overhead$150,000 The following information about the jobs was given for January Job 1002 Job 1003 Job 1004 Job 1001 $44,900 54,000 $80,000 Balance I/I direct materials direct labor number of setups umber of parts direct labor hours $60,700 SO $37,000 | s25,000 | $41,000 S38,500 $43,000 S71,000 200 500 1,200 1,800 10 40 300 5,000 2,000 30 400 5,200 2,400 1,500 800 By January 31, Jobs 1001 and 1004 were completed and only Job 1004 was sold. The remaining jobs were still in process. (1) Calculate three activity rates. (2) Calculate the overhead cost per unit for Job 1004. (3) Determine the cost per unit for Jobs 1001 and 1004. (4) Calculate the beginning balance and ending balance of work-in-process for January (5) Determine the cost of goods manufactured. (6) Calculate the cost of goods sold (7) Prepare all necessary journal entries pertaining Job l 001, Job 1002, Job 1003, and Job 1004

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