Good Morning Enterprises produces digital alarm clocks. It has a just-in-time assembly process and uses back-flush costing
Question:
Good Morning Enterprises produces digital alarm clocks. It has a just-in-time assembly process and uses back-flush costing to record production costs. Overhead is assigned at a rate of $17 per assembly labor hour. There were no beginning inventories in March. During Match, the following operating data were generated:
Cost of direct materials purchased and used..............$53,200
Direct labor cost incurred .....................$27,300
Overhead costs assigned ...................... ?
Assembly hours worked ...................... 3,840 hours
Ending work in process inventory,................. $1,050
Ending finished goods inventory................... $,960
Using T accounts, show the flow of costs through the back-flush costing system what is the total cost of goods sold in March?
Step by Step Answer:
Managerial Accounting
ISBN: 9780538742801
11th Edition
Authors: Susan V. Crosson, Belverd E. Needles