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A company's overhead rate is 60% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used: Goods In Process
A company's overhead rate is 60% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used:
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| Goods In Process Inventory |
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| FG Inventory | ||
| Beg Bal | 150000 |
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| Beg Bal | 125000 |
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| DM | ? | ? |
| ins & outs | 325000 | 305000 |
| DL | ? |
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| End | 145000 |
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| OH | ? |
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| Ending | 127500 |
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| Factory Overhead |
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| 94000 | 97500 |
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