Determine the balance of the work in process account
Job 302 and Job 304 is under work in process
Job 302 | Job 304 | |
Beginning balance | 42400 | 37900 |
Direct material | 10200 | 16500 |
Direct labor | 32000 | 10000 |
Overhead | 19200 | 6000 |
Total | 103800 | 70400 |
Balance in work in process account = 103800+70400 = 174200
b) Applied overhead = 60000*.60 = 36000
Actual overhead = 36800
Under applied overhead = 800
By this under applied overhead cost of goods sold increase by $800
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