Gatti Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials...
Gatti Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost category (manufacturing overhead). The following information is obtained for 2017:
Total manufacturing costs, $ 8,100,000$ times • Manufacturing overhead allocated, $3,600,000(allocated at a rate of 250% of direct manufacturing labor costs) times • Work-in-process inventory on January 2017,$400,000 times • Cost of finished goods manufactured, $8,040,000
|
1. |
Use information in the first two bullet points to calculate
(a) direct manufacturing labor costs in
2017 and (b) cost of direct materials used in 2017. |
|
2. |
Calculate the ending work-in-process inventory on December 31,2017. |
Homework Answers
1) Direct manufacturing cost = Total manufacturing cost-Indirect manufacturing cost = 8100000-3600000 = 4500000
Direct labor = 3600000/2.5 = 1440000
Direct material = 4500000-1440000 = 3060000
2) Ending work in process = 400000+8100000-8040000 = $460000
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Gatti Manufacturing uses normal costing for its job-costing
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