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Thomas Company began its operations in 2027 and applies overhead costs to jobs...

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Accounting

Thomas Company began its operations in $2027$ and applies overhead

costs to jobs using a pre $-$ determined overhead rate equal to $60 %$

of direct labor cost.

During $2027,$ Thomas Company began work on three jobs. Information

relating to these three jobs appears below:

Job A $- 75$ Job B $- 32$ Job C $- 61$

direct materials used $. . . .$ $ $33, 000$ $ $8000$ $ $19000$

direct labor cost $. . . . . . . . ? ? ?$ $ $34, 000$ $ $26, 000$

By the end of $2027,$ Job B $- 32$ and Job C $- 61$ had been completed.

Job A $- 75$ was not completed by the end of $2027 .$ Additionally,

by the end of $2027,$ Job B $- 32$ had been sold while Job C $- 61$ was

not sold.

Additional information is provided below:

$1 .$ The cost of goods manufactured for $2027$ totaled $ $123, 000 .$

$2 .$ Thomas Company reported actual overhead cost for $2027$ of

$ $48, 000 .$

$3 .$ At December $31, 2027,$ Thomas Company's work in process

inventory balance amounted to $ $86, 000$ and its finished

goods inventory balance totaled $ $60, 600 .$

$4)$ Applied Overhead costs for Job B $- 32$ is $ $20400,$ and for Job C $- 61$ is $ $15, 600$

$5)$ Total manufacturing costs for Job A $- 75$ is $ $86, 000,$ Job B $- 32$ is $ $62, 400,$ and Job C $- 61$ is $ $60, 600$

Calculate the amount of direct labor cost charged to Job A $- 75$

during $2027 .$

Answer & Explanation Solved by verified expert

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