Question

The construction of a new campus building The refining of petroleum. Question 30 3 pts During 2020, Banyan Manufacturing expected Job No. 75 to cost $600,000 of overhead, $500,000 of materials, and $400,000 in labor. Banyan applied overhead based on direct labor cost. Actual production required an overhead cost of $550,000, $800,000 in materials used, and $320,000 in labor. All of the goods were completed. What amount was transferred to Finished Goods? $1,600,000 O $1,500,000 O $1,670,000 O $1.720,000 Question 31 2 pts In Ash Company, the Testing Department had beginning work in process of 8,000 units, started 24,000 units into production, and had an ending work in process of 4,000 units. How many units were completed and transferred out by Ash during the month? 12.00 п a e ACKARD

Answer 1

Requirement 1(Question no.30):-

The amount transferred to Finished goods is calculated as follows:-

Particulars	Amount
Direct Materials	800,000
Labor	320,000
Overheads	550,000
Total transferred to Finished goods	1,670,000

Based on the above calculation, the correct answer is Option C - $1,670,000. The amount transferred to Finished goods is based on the actual costs and not the applied costs. Hence, this is the correct answer.

Option A, Option B and Option D are incorrect per the above explanations.