Dacosta Corporation had only one job in process on May 1. The job had been charged with $2,250 of direct materials, $6,990 of direct labor, and $10,062 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $19.30 per direct labor-hour.
During May, the following activity was recorded:
Raw materials (all direct materials): | ||
Beginning balance | $ | 8,950 |
Purchased during the month | $ | 38,450 |
Used in production | $ | 39,750 |
Labor: | ||
Direct labor-hours worked during the month | 2,350 | |
Direct labor cost incurred | $ | 24,960 |
Actual manufacturing overhead costs incurred | $ | 33,750 |
Inventories: | ||
Raw materials, May 30 | ? | |
Work in process, May 30 | $ | 17,054 |
Work in process inventory on May 30 contains $3,822 of direct labor cost. Raw materials consist solely of items that are classified as direct materials.
The cost of goods manufactured for May was:
Answer:
Cost of Goods Manufactured = Beginning Work in Process Inventory + Total Manufacturing Costs – Ending Work in Process Inventory
Total Manufacturing Costs = Raw Materials used + Direct Labor +
Manufacturing Overhead applied
Manufacturing Overhead applied = $19.30 * 2,350
Manufacturing Overhead applied = $45,355
Total Manufacturing Costs = $39,750 + $24,960 + $45,355
Total Manufacturing Costs = $110,065
Beginning Work in Process Inventory = $2,250 + $6,990 +
$10,062
Beginning Work in Process Inventory = $19,302
Cost of Goods Manufactured = $19,302 + $110,065 - $17,054
Cost of Goods Manufactured = $112,313
Dacosta Corporation had only one job in process on May 1. The job had been charged...
Dacosta Corporation had only one job in process on May 1. The job had been charged with $2,200 of direct materials, $6,966 of direct labor, and $10,048 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $19.20 per direct labor-hour. During May, the following activity was recorded: Raw materials (all direct materials): Beginning balance $ 8,900 Purchased during the month $ 38,400 Used in production $ 39,700 Labor: Direct labor-hours worked during...
Dacosta Corporation had only one job in process on May 1. The job had been charged with $2,200 of direct materials, $6,966 of direct labor, and $10,048 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $19.20 per direct labor- hour. During May, the following activity was recorded: $ 8,900 $38, 400 $39, 700 Raw materials (all direct materials): Beginn balance Purchased during the month Used in production Labor: Direct labor-hours worked...
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Saved Help Save & Exit Dacosta Corporation had only one job in process on May 1. The job had been charged with $2,600 of direct materials, $6,966 of direct labor, and $10,16 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $20.00 per direct labor-hour. During May, the following activity was recorded: $ 9,300 $38,800 $40,100 Raw materials (all direct materials): Beginning balance Purchased during the month Used in production Labor: Direct...
Dacosta Corporation had only one job in process on May 1. The job had been charged with $1,850 of direct materials. $6.990 of direct labor, and $9.950 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $18.50 per direct labor-hour. During May, the following activity was recorded: $ 8,550 $38,050 $39,350 Raw materials (all direct materials Beginning balance Purchased during the month Used in production Labor: Direct labor-hours worked during the month...
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