Michelle Corporation reported the following data for the month of July: Inventories: Beginning Ending Raw materials...
Michelle Corporation reported the following data for the month of July:
Inventories:
| Beginning | Ending | |||
| Raw materials | $ | 46,000 | $ | 39,500 |
| Work in process | $ | 25,500 | $ | 36,000 |
| Finished goods | $ | 41,500 | $ | 56,500 |
Additional information:
| Raw materials purchases | $ | 75,500 |
| Direct labor cost | $ | 100,500 |
| Manufacturing overhead cost incurred | $ | 68,500 |
| Indirect materials included in manufacturing overhead cost incurred |
$ | 11,800 |
| Manufacturing overhead cost applied to Work in Process | $ | 67,500 |
Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.
The direct materials cost for July is:
Multiple Choice
-
$70,200
-
$69,000
-
$82,000
-
$75,500
Homework Answers
ANSWER: 70200
RAW MATERIALS BEGINNING. 46000
ADD:RAW MATERIALS PURCHASES. 75500
LESS:RAW MATERIALS ENDING. - 39500
LESS:INDIRECT MATERIALS. -11800
DIRECT MATERIAL COST. $ 70200
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Michelle Corporation reported the following data for the month
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