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As of the end of June, the Work in Process Inventory account of GAWI, Inc., a manufacturing company that uses job order costing has a
As of the end of June, the Work in Process Inventory account of GAWI, Inc., a manufacturing company that uses job order costing has a balance of $51,724. The company applies overhead based on direct material cost. The cost sheet of the only job still in process shows direct material cost of $31,312 and direct labor cost of $8,100. Therefore, the company's predetermined overhead rate (rounded to the nearest whole percent) is of direct material cost. a. 39% b. 152% c. 76% d. 387% e. 131%
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