Question
A company's overhead application rate is 120% of direct labor cost. Using the following incomplete accounts, determine Direct Materials Used. Good in Process Inventory Dr
A company's overhead application rate is 120% of direct labor cost. Using the following incomplete accounts, determine Direct Materials Used.
Good in Process Inventory
| Dr | Cr | |
| Beginning Balance | 180,000 | |
| Direct Materials | ? | |
| Direct Labor | ? | |
| Factory Overhead | ? | |
| ? | ||
| Ending Balance | 200,000 |
Finished Goods Inventory
| Dr | Cr | |
| Beginning Balance | 120,000 | |
| ? | ||
| 870,000 | ||
| Ending Balance | 150,000 |
Factory Overhead
| Dr | Cr | |
| 224,000 | ||
| 240,000 |
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Organizational Auditing And Assurance In The Digital Age
Authors: Rui Pedro Marques, Carlos Santos, Helena Inácio
1st Edition
1522573569, 978-1522573562
