Reference no: EM132627247

As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs.

                                             Job 102             Job 103                        Job 104

Direct materials                 $25,000            $65,000                      $46,000

Direct labor                         16,000               28,000                      45,000

Overhead applied                     7,040                   12,320                   19,800

Job 102 was started in production in May, and the following costs were assigned to it in May:

direct materials, $11,000;

direct labor, $3,300; and overhead, $1,452.

Jobs 103 and 104 were started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were ?nished in June, and Job 104 is expected to be finished in July. No raw materials were used indirectly in June.

Using this information. answer the following questions. (Assume this company's predetermined overhead rate did not change across these months.)

Question 1: Calculate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs?

Question 2: Using the accumulated costs of the jobs, what predetermined overhead rate is used?

Question 3: How much total cost is transferred to finished goods during June?