A Company Uses a Job Order Costing System and Applies

question 46

Essay

A company uses a job order costing system and applies overhead on the basis of direct labor cost. A summary of the company's Work in Process Inventory account for December appears below.
Work In Process


Fill in the blanks for the following:

(1) The total cost of the direct materials, direct labor, and factory overhead for jobs still in progress is $________.
(2) The company's overhead application rate is ________%
(3) Job No. 6 had $26,550 of direct labor cost. Therefore, the job must have had $________ of direct materials cost.
(4) Job No. 8 had $73,998 of direct materials cost. Therefore, the job must have had $________ of factory overhead cost.

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Definitions:

Emic Analyses

Analyses that seek to understand cultural phenomena from the perspective of the insider, emphasizing context-specific meanings and practices.

Cultural Universals

These are elements, patterns, traits, or institutions that are common to all human cultures worldwide.

Cultural Relativity

The principle that an individual's beliefs and activities should be understood by others in terms of that individual's own culture.

'Etic' Abnormalities

Universal conditions or behaviors considered abnormal across different cultures.