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At the beginning of the year, the company estimated the annual manufacturing overhead and direct labor costs would be $ 5 , 0 0 0
At the beginning of the year, the company estimated the annual manufacturing overhead and direct labor costs would be $ and $ respectively. The following information pertains to March of the current year: Job Job Job Totals Beginning balance Current period costs added: $ $ $ Direct materials requisitioned used $ $ $ $ Direct labor costs $ $ $ $ Assume that Jobs and are completed during the month and that Job was sold on account for Required: a Compute the predetermined overhead application rate for the year. b Determine the total cost including beginning inventory assigned to each job. Job Job Job c What are the ending balances in these accounts? Workinprocess inventory Finished goods inventory Cost of goods sold
At the beginning of the year, the company estimated the annual manufacturing overhead and direct labor costs would be $ and $ respectively.
The following information pertains to March of the current year:
Job Job Job Totals
Beginning balance
Current period costs added: $ $ $
Direct materials requisitioned used $ $ $ $
Direct labor costs $ $ $ $
Assume that Jobs and are completed during the month and that Job was sold on account for
Required:
a Compute the predetermined overhead application rate for the year.
b Determine the total cost including beginning inventory assigned to each job.
Job
Job
Job
c What are the ending balances in these accounts?
Workinprocess inventory
Finished goods inventory
Cost of goods sold
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