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Jorgensen Corporation uses standard costs with its job order cost accounting system in Janhary andrder...

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Accounting

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Jorgensen Corporation uses standard costs with its job order cost accounting system in Janhary andrder (uob Na. 12 ior iooo units of Product B was recelived. The standard cost of one unit of Product B is as fol whai Notmai capacity for the month was 4,060 machine hours. During January the folioming transactions applicableco dob Na 12 axcirted. 1. Purchased 3.200 pounds of rav materials on account at $1.15 per pound. 2 Requisitioned 3,200 pounds of rw mater als for /abNo. 12. 3. 3 incured i. 50 hicains of direct labor at a ract of 59.90 per bour: 4. Worked 1150 thours ot direct labor on kob Na.12. 5. ineurred alinufictaring oveshead on account 516000 . 6. Afalied overhad to Job Noi 12 cn basis of standard machine hours allowes. 7. Completed Job No. 12 6. Billed cuptomerfor Job No. 12 at a seling priceut 595000 . No. Account Titles and Explanation i. 2. 2. 4. 5. . 7. a. (Toreurtsalesi eTeatbook and Media

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