During 2017, Vaughn Manufacturing expected Job No. 26 to cost $300000 of overhead, $500000 of materials,...
During 2017, Vaughn Manufacturing expected Job No. 26 to cost
$300000 of overhead, $500000 of materials, and $200000 in labor.
Vaughn applied overhead based on direct labor cost. Actual
production required an overhead cost of $360000, $640000 in
materials used, and $300000 in labor. All of the goods were
completed. What amount was transferred to Finished Goods?
| $1300000 |
| $1240000 |
| $1390000 |
| $1000000 |
Homework Answers
Overhead rate = Estimated overhead/Estimated labor cost
= 300,000/200,000 = 150% of dl cost
Amount transferred to Finished goods
= Direct Materials + Direct Labor + Overhead
= 640,000 + 300,000 + (300,000*150%)
= 1,390,000
Option C
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