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Atlantic Manufacturing Corp operates a job-order costing system and applies overhead cost to jobs on the basis of direct labor cost. The company has provided

Atlantic Manufacturing Corp operates a job-order costing system and applies overhead cost to jobs on the basis of direct labor cost. The company has provided the following data:

(Amounts in dollars $)

Estimated direct labor cost

85,000

Actual direct labor cost

87,000

Estimated manufacturing overhead costs

148,750

Actual manufacturing overhead costs

147,300

Purchases of raw materials (all direct)

141,000

Beginning

Ending

Raw materials

23,000

16,000

Work in Process

44,000

36,000

Finished Goods

90,000

63,000

Information about Job 137 (use to answer related question below):

Direct materials

3,200

Direct labor

4,200

E) Compute the amount of adjusted cost of goods sold for the period. Assume that all over/under-applied overhead is closed to COGS.

Do not include dollar signs, commas or decimals in your response.

Answer:

F) Refer to the schedule of beginning and ending balances. Assume direct labor makes up $9,000 of the ending Work in Process inventory balance. Compute the amount of direct materials included in ending Work in Process.

Do not include dollar signs, commas or decimals in your response.

Answer:

G) Job 137 was started and completed during the year (see above for data pertaining to this job). If the company's selling prices are based on a 40% markup over total job cost, what was the selling price for job 137?

Do not include dollar signs, commas or decimals in your response. Round to nearest whole dollar.

Answer:

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