Question
Amanda Corporation makes two kinds of boat hulls: regular and deluxe. The following data are available. Regular Deluxe Opening WIP inventory $280,000 $147,500 RM used
Amanda Corporation makes two kinds of boat hulls: regular and deluxe. The following data are available.
| Regular | Deluxe | |
| Opening WIP inventory | $280,000 | $147,500 |
| RM used | 690,000 | 545,000 |
| Direct labor consumed | 985,000 | 1,342,600 |
| Cost of goods manufactured | 2,250,000 | 2,346,900 |
Amanda expected to spend $1,358,500 on manufacturing overhead during the year. This overhead is allocated to products at the rate of 105% of raw materials cost. What is the value of the ending WIP account for the regular hulls, prior to disposition of any under or over applied overhead?
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A Practical Guide To UK Accounting And Auditing Standards
Authors: Steve Collings
1st Edition
152650331X, 9781526503312
