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Heurion Company is a job

Price: $2.50


Heurion Company is a job order costing firm that uses a plantwide overhead rate based on direct labor hours. Estimated information for the year is as follows:

Overhead 789,000
Direct labor hours 100,000

Heurion worked on five jobs in July. Data are as follows:

 Job 741   Job 742   Job 743   Job 744   Job 745 
Balance, July 1  29,870  55,215  27,880  -    -  
Direct materials  25,500  39,800  14,450  13,600  8,420
Direct labor cost  61,300  48,500  28,700  24,500  21,300
Direct labor hours  4,000  3,400  1,980  1,600  1,400

By July 31, Jobs 741 and Jobs 743 were completed and sold. The remaining jobs were in process.

1. Calculate the plantwide overhead rate for the Heurion Company. Round to the nearest cent.
2. Prepare the job order cost sheets for each job showing all costs through July 31
3. Calculate the balance in WORK IN PROCESS on July 31.
4. Calculate COST OF GOODS sold for July.

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