i need exact solutions for all requirements
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i need exact solutions for all requirements i need exact solutions for all requirements
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Richard Company produces pipes for concert-quality organs. Each job is unique. In April 2012, it completed all outstanding orders, and then, in May 2012, it worked on only two jobs, M1 and M2:
Richard Company, May 2012 Job M1 Job M2
Direct materials
$ 70,000 $ 54,000
Direct manufacturing labor
272,000 200,000
Direct manufacturing labor paid at the rate of $32 per hour. Manufacturing overhead costs are allocated at a budgeted rate of $22 per direct manufacturing labor-hour. Only Job M1 was completed in May.
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Requirements
Requirement 1. Calculate the total cost for Job M1.
Job Costs May 2012
Job M1
1. Calculate the total cost for Job M1.
2.1,400 pipes were produced for Job M1. Calculate the cost per pipe.
3. What is the ending balance in the Work-in-Process Control account?
Total costs
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