You have applied for a cost accounting position with Chelsea Containers. The company…

(Job cost sheet analysis) You have applied for a cost accounting position with Chelsea Containers. The company controller has asked all candidates to take a quiz to demonstrate their knowledge of job order costing. Chelsea’s job order costing system is based on normal costs, and overhead is applied based on direct labor cost. The following information pertaining to May has been provided to you:

Direct

Applied

Job No.

Material

Direct Labor

Overhead

Total Cost

67

$ 35,406

$13,840

$15,916

$ 65,162

69

109,872

14,480

16,652

141,004

70

2,436

4,000

4,600

11,036

71

308,430

57,000

?

?

72

57,690

4,400

5,060

67,150

You are informed that Job #68 had been completed in April. You are also told that Job #67 was the only job in process at the beginning of May. At that time, the job had been assigned $25,800 for direct material and $7,200 for direct labor. At the end of May, Job #71 had not been completed; all others were complete. Answers to the following questions are required:

a. What is Chelsea Containers’ predetermined overhead rate?

b. What was the total cost of beginning Work in Process Inventory?

c. What were total direct manufacturing costs incurred for May?

d. What was cost of goods manufactured for May?

 

Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code “Newclient” for a 15% Discount!

NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.


The post You have applied for a cost accounting position with Chelsea Containers. The company… appeared first on The Nursing Hub.

 

"Is this question part of your assignment? We Can Help!"

Essay Writing Service