Question

In: Accounting

At the beginning of June, Rhone Company had two jobs in process, Job 44 and Job...

At the beginning of June, Rhone Company had two jobs in process, Job 44 and Job 45, with the following accumulated cost information:

Job 44 Job 45
Direct materials $5,250 $1,600
Direct labor 1,500 3,300
Applied overhead 1,125 2,475
Balance, June 1 $7,875 $7,375

During June, two more jobs (46 and 47) were started. The following direct materials and direct labor costs were added to the four jobs during the month of June:

Job 44 Job 45 Job 46 Job 47
Direct materials $2,300 $7,110 $1,750 $1,700
Direct labor 720 6,320 900 500

At the end of June, Jobs 44, 45, and 47 were completed. Only Job 45 was sold. On June 1, the balance in Finished Goods was zero.

Rhone Company

Job-Order Cost Sheets

For the Month of June

1

Job 44

Job 45

Job 46

Job 47

2

Beginning balance, June 1

7875

7375

0

0

3

Direct materials

2300

7110

1750

1750

4

Direct labor

720

6320

900

✔

5

Applied overhead

6

Total, June 30

Calculate the ending balances of Work in Process and Finished Goods as of June 30.

Work in Process:
Finished Goods:

4. Calculate the Cost of Goods Sold for June.

Cost of Goods Sold:

Solutions

Expert Solution

ekkarill92 answered 2 years ago
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