COMM 305 Study Guide - Final Guide: Operating Leverage, Cost Driver, Rotational Molding
20 Apr 2018
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The following information relates to walnut ltd. for the year ended december 31, 2013: *of these costs, 80 % are assigned to manufacturing activities and the remainder pertain to selling and administrative functions. (assume that there is no over-or-under applied overhead. ) Vargas corporation"s fiscal year ends on november 30. The following accounts are found in its job-order cost accounting system for the first month of the new fiscal year: Other data: on december 1, two jobs were in process: job no. These jobs had combined direct materials costs of ,750 and direct labour costs of ,000. Overhead was applied at a rate that was 75% of the direct labour cost: during december, job nos. This job had charges for direct materials of ,800 and direct labour of ,800, plus manufacturing overhead. 158 were completed in december: on december 1, job no. 157 was the only job finished that was not sold.
