Karon Audio, Inc. manufactures speakers. During March, Karon’s transactions and accounts included the following: Raw materials...
Karon Audio, Inc. manufactures speakers. During March, Karon’s transactions and accounts included the following:
Raw materials acquired for cash $82,500
Cost of direct materials issued to production 81,900
Costs to ship products to customers 1,000
Direct labor cost incurred 41,000
Total manufacturing overhead incurred 25,000
Raw materials inventory, beginning 3,500
Raw materials inventory, ending 3,600
Work in process inventory, beginning 12,000
Work in process inventory, ending 14,200
Total manufacturing overhead applied 22,000
What is the cost of indirect materials transferred to manufacturing overhead? ( Please show work)
a. $600
b. $500
c. $700
Homework Answers
we shall find raw material used in production
| Beginning raw material inventory | $3,500 | ||||
| Add: purchase of raw material | $82,500 | ||||
| Less: Ending Raw material inventory | ($3,600) | ||||
| Raw material used | $82,400 | ||||
| Less: DIRECT MATERIAL used into production | ($81,900) | ||||
| Indirect material transferred to manufacturing OH | $500[$82,400-$81,900] |
Answerb)
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