Question
6. The Work in Process Inventory account for Clinton Company for the month ended September 30 appears below. Work in Process Inventory Beginning Balance 0
6. The Work in Process Inventory account for Clinton Company for the month ended September 30 appears below.
| Work in Process Inventory | |||
| Beginning Balance | 0 | Completed | 135,800 |
| Direct Materials | 42,000 |
|
|
| Direct Labor | 70,000 |
|
|
| Overhead | 91,000 |
|
|
Overhead is applied based on direct labor dollars. Direct material costs for the one job remaining in work in process on September 30 was $12,300.
a. What was the overhead rate used to apply overhead to jobs?
b. Determine the amount of direct labor charged to the one remaining job. Round you answers to nearest dollars
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CPA Comprehensive Exam Review Auditing And Attestation
Authors: Nathan M. Bisk
43rd Edition
088128095X, 978-0881280951
