Please assist with this question my answers are not correct. :( As of the end of

Question

Please assist with this question my answers are not correct. :(

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 30,000 $49,000 $62,000 19,000 29,700 38,000 Overhead applied6,460 10,098 12,920 Direct labor Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $14,000; direct labor, $3,400; and overhead, $1,156. Jobs 103 and 104 are started in June Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 are finished in June, and Job 104 is expected to be finished in July. No raw materials are used indirectly in June. Using this information, answer the following questions. (Assume this company's predetermined overhead rate did not change across these months.) 1&2. Complete the given below table to calculate the cost of the raw materials requisitioned and direct labor cost incurred during June for each of the three jobs? Direct Materials May June Total 102 103 104 Total Direct Labor: 0 May June Total 102 103 104 Total

Explanation / Answer

1 & 2 Direct material Job May June Total $ 102 14000 16000 30000 103 49000 49000 104 62000 62000 Total 14000 127000 Direct labour 102 4300 14700 19000 103 29700 29700 104 38000 38000 4300 82400 3 Predetermined Overhead rate Job 102 Numerator Denominator Rate 6460 14700 0.44 Job 104 12920 38000 0.34 4) Job Direct ,material Direct labour Applied Overhead Total Cost Cost transferred to FG 102 30000 19000 6460 55460 55460 103 49000 29700 10098 88798 88798 104 62000 38000 12920 112920 Will be completed in July 141000 86700 29478 257178 144258

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