Acct 2020: Question 1

Question Help Donnyelle Industries is calculating its Cost of Goods Manufactured at year-end. The company's accounting records show the following: The Raw Materials Inventory account had a beginning balance of $20,000 and an ending balance of $13,000. During the year, the company purchased $55,000 of direct materials. Direct labor for the year totaled $126,000, while manufacturing overhead amounted to $159,000. The Work in Process Inventory account had a beginning balance of $28,000 and an ending balance of $16,000. Assume that Raw Materials Inventory contains only direct materials. Compute the Cost of Goods Manufactured for the year. (Hint: The first step is to calculate the direct materials used during the year.) For Current Year Plus: Less: Direct materials used Compute the Cost of Goods Manufactured for the year. Donnyelle Industries Calculation of Cost of Goods Manufactured For Current Year Plus: Manufacturing costs incurred Less: Cost of goods manufactured Choose from any list or enter any number in the input fields and then continue to the next question. ?Question Help Cabinets Unlimited uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $65 per machine hour, while the Sanding Department uses a departmental overhead rate of $20 per direct labor hour. Job 542 used the following direct labor hours and machine hours in the two departments: Assembly Sanding Actual results Department Department Direct labor hours used Machine hours used The cost for direct labor is $35 per direct labor hour and the cost of the direct materials used by Job 542 is $1,400. What was the total cost of Job 542 if Lucas Industries used the departmental overhead rates to allocate manufacturing overhead? O A. $1,750 O B. $2,360 O C. $2,505 O D. $1,715 Click to select your