Job costing, solving for unknowns. (J. Watson) Osprey Ltd. manufactures designer aie 000 During the year, it recorded direct materials used of $684,000. ‘Total manufacturing costs o

-. $1,482,000 were incurred during the year. Osprey uses one indirect cost pool for all overhead costs and allocates overhead at a rate of 60% of direct labour dollars.

REQUIRED Prepare a Schedule of Cost of Goods Manufactured and Sold for the year. You will need to solve for the following unknowns:

a. Direct materials purchased

b. Direct labour costs

c. Manufacturing overhead allocated

d. Cost of goods manufactured

e. Cost of goods sold LO1

Transcribed Image Text:

December 31 $162,000 204,000 107,000 225,000 248,000 Direct materials inventories Work-in-process inventories Finished goods inventories January 1 $193,000