During 2016 Caruba Manufacturing expected Job 25 to cost $75,000 of overhead, $130,000 of material, and...
During 2016 Caruba Manufacturing expected Job 25 to cost $75,000 of overhead, $130,000 of material, and $25,000 in labour. Caruba applied overhead based on direct labour cost. Actual production required an overhead cost of $80,000, $140,000 in materials used; and $20,000 in labour. All of the goods were completed. What amount was transferred to Finished Goods?
a) $240,000
b) $230,000
c) $220,000
d) $210,000
why the answer is C
Homework Answers
| Job 25 | ||||
| Overhead | 75000 | |||
| Material | 130000 | |||
| Labor | 25000 | |||
| Base of OH Application: | 300% | (75000/25000) | ||
| Actual Production: | ||||
| Material | 140000 | |||
| Labor | 20000 | |||
| OH Applied | 60000 | (20000*300%) | ||
| Total Cost of Finished Goods Transferred | 220000 | |||
| Answer is C $220000/- | ||||
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