Question
Bard Manufacturing uses a job order cost accounting system. During one month Bard purchased $207,000 of raw materials on credit; issued materials to production of
Bard Manufacturing uses a job order cost accounting system. During one month Bard purchased $207,000 of raw materials on credit; issued materials to production of $204,000 of which $21,000 were indirect. Bard incurred a factory payroll of $159,000, paid in cash, of which $31,000 is classified as indirect labor. Bard uses a predetermined overhead application rate of 150% of direct labor cost. Bard's beginning and ending Goods in Process Inventory are $16,400 and $27,900 respectively. Compute the cost of product transferred to Finished Goods Inventory:
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started