Limestone Garments Started and Finished Job No

question 44

Essay

Limestone Garments started and finished job no. 125 during March. The job required $30,000 of direct material and 100 hours of direct labour at $15 per hour. The predetermined overhead rate is $20 per direct labour hour.
During March, direct materials requisitions for all jobs totalled $300,000; the total direct labour hours and cost were 8,000 hours at $15 per hour; and the total cost of jobs completed was $400,000. All of these figures include data that pertain to job no. 125.
Required:
A. Prepare journal entries that summarize March's's total activity for Limestone Garments.
B. Determine the cost of job no. 125.
C. Assuming no opening balance, if actual manufacturing overhead costs for Limestone for the period totaled $200,000 was overhead over or underapplied and by how much?

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Definitions:

Prestige

The level of respect, admiration, or esteem that a person, organization, or entity is regarded with, often based on perceived success, achievement, or quality.

Superiority

The state or quality of being superior or better than others, often in skills, performance, or status.

Internal Locus

The belief that one controls their own destiny and outcomes are the result of personal effort and actions.

Control Orientation

An approach or mindset focused on managing or directing the behavior and activities of individuals or groups, often to ensure conformity and achieve specific outcomes.