Garrett Toy Company incurred the following costs in April to produce job number TB78, which consisted of 1,000 teddy bears that can walk, talk, and play cards.
Direct Material: 4/1/20×0 Requisition number 101: 400 yards of fabric at $.80 per yard
4/5/20×0 Requisition number 108: 500 cubic feet of stuffing at $.30 per cubic foot
Direct Labor: From employee time cards for 4/1/20×0 through 4/8/20×0: 500 hours at $12 per hour
Manufacturing Overhead: Applied on the basis of direct-labor hours at $2.00 per hour.
Job number TB78 was completed on April 15. On April 30, 700 of the bears were shipped to a local toy store.
Required: Prepare a job-cost record using the information given above. (Use Exhibit 3–3 as a guide.)
Hilton, Ronald. Managerial Accounting: Creating Value in a Dynamic Business Environment (p. 117). McGraw-Hill Higher Education.
ISBN-13: 978-1260566390
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