At the End of June, the Job Cost Sheets for Monson

question 13

Essay

At the end of June, the job cost sheets for Monson Manufacturing show the following total costs accumulated on three custom jobs.
Job 203 was started in production in May and the following costs were assigned to it in May: direct materials, $12,000; direct labor, $6,000; and overhead $8,700. Jobs 204 and 205 are started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 203 and 204 are finished in June, and Job 205 will be finished in July. No raw materials are used indirectly in June. Using this information, answer the following questions assuming the company's predetermined overhead rate did not change.

---

Definitions:

Supply for Jobs

The concept refers to the availability of employment opportunities within a market or sector.

Demand for Workers

The need for labor by employers, typically driven by economic conditions and the requirements of the job market.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, marked by advancements in manufacturing and production technology.

Germany

Is a country in Central Europe known for its rich history, cultural heritage, and strong economy, being one of the world's leading industrialized countries.