Madtack Company uses a job-order costing system and started the month of March with only one job

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Madtack Company uses a job-order costing system and started the month of March with only one job in process (Job #359). This job had $5,000 of total cost assigned to it at the beginning of March.

Madtack applies overhead to jobs at a rate of 75% of direct labor cost. During March, Madtack assigned production costs as follows to the jobs worked on during the month:

Job #359 Job #360 Job #361 directmaterials. $1,000 directlabor. 2,000 $3,000 $2,000 5,000 3,000 ww

During March, Madtack completed and sold Job #361. Job #359 was also completed but was not sold by the end of March. Job #360 was not completed by the end of March.
Calculate Madtack's cost of goods manufactured for March. Do not use decimals in your answer.

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Managerial Accounting

ISBN: 978-0078025518

2nd edition

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

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