Home / Questions / On June 1 Landsman Company’s work-in-process inventory consisted of three jobs with the fo...
On June 1, Landsman Company’s work-in-process inventory consisted of three jobs with the following costs: During June, four more jobs were started. Information about costs added to the seven jobs during June is as follows: Before the end of June, Jobs 80, 82, 83, and 85 were completed. On June 30, Jobs 82 and 85 were sold. Required: 1. Calculate the predetermined overhead rate based on direct labor cost. 2. Calculate the ending balance for each job as of June 30. 3. Calculate the ending balance in Work-in-Process Inventory as of June 30. 4. Calculate the cost of goods sold for June. 5. Assuming that Landsman prices its jobs at cost plus 50 percent, calculate Landsman’s sales revenue forJune.
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