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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. Work 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.
| Work in Process Inventory | |||
| Beginning WIP | 108,700 | ||
| Direct Materials | ? | ||
| Direct Labor | ? | ||
| Applied Overhead | ? | ||
| To Finished Goods | ? | ||
| Ending WIP | 141,400 | ||
| Factory Overhead | |
| 108,700 | 97,830 |
| Finished Goods Inventory | |||
| Beginning FG | 127,700 | ||
| 350,900 | 325,100 | ||
| Ending FG | 153,500 | ||
186,200
122,720
32,700
228,180
350,900
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