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Angry Birds, Inc. designs and builds retaining walls for individual customers. On August 1, 2 jobs were in process: Level 1 with a beginning balance
Angry Birds, Inc. designs and builds retaining walls for individual customers. On August 1, 2 jobs were in process: Level 1 with a beginning balance of $12,000 and Level 2 with a beginning balance of $8, 600. During August, Level 3 and Level 4 were started. Levels 1 and 2 were sold at cost plus 40% during August. All other jobs remained n process at month end. The company applies manufacturing overhead at a rate of $9 per direct labor hour. Direct labor wages average $10 per hour. The following additional cost information is available for August: The sales staff is paid a 2% commission on all sales for the period. Calculate the following given actual MOH of $8, 200 incurred during August. The gross profit reported on the Income Statement for August equals $. The ending work in process balance reported on the Balance Sheet for August equals $
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