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Question - The Diamond Company uses a job order cost accounting system. Overhead is applied to production at a predetermined rate of 80% based on direct labor cost. The following posting appear in the ledger accounts of the company for the month of September
Debit
Work in process, Sept. 1 30,000
Direct materials 60,000
Direct labor 50,000
Factory overhead 40,000
Cost of goods completed (155,000)
Job no. 327 was the only job not completed in September and it has been charged 4,600 for factory overhead.
Required -
1. Determine the Direct materials charged to Job no. 327?
a. 10,350
b. 14,650
c. 20,000
d. 25,000
2. Determine the Direct labor charged to Job no. 327?
a. 5,750
b. 6,784
c. 8,280
d. 8,480
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