Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Beckett Industries has the following beginning and ending inventories for the month of April. April 1 April 30 Direct materials $ 67,000 $ 62,000 Work-in-process

Beckett Industries has the following beginning and ending inventories for the month of April.

April 1 April 30
Direct materials $ 67,000 $ 62,000
Work-in-process 145,000 171,000
Finished goods 85,000 78,000

Production data for the month of April is:

Direct labor $ 200,000
Actual overhead 132,000
Direct materials purchased 163,000
Transportation in 4,000
Purchase Returns and Allowances 2,000

Beckett uses one overhead control account and charges overhead to production at 70% of direct labor cost. The company does not formally recognize over- or underapplied overhead until year-end. What is Becketts cost of goods transferred to finished goods inventory for April?

Multiple Choice

  • $469,000.

  • $477,000.

  • $495,000.

  • $484,000.

  • None of the answers is correct.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Workbook

Authors: Azhar Ul Haque Sario

1st Edition

B0C9SG1YC6, 979-8851207891

More Books

Students also viewed these Accounting questions

Question

What is meant by planning or define planning?

Answered: 1 week ago

Question

Define span of management or define span of control ?

Answered: 1 week ago

Question

What is meant by formal organisation ?

Answered: 1 week ago

Question

What is meant by staff authority ?

Answered: 1 week ago

Question

9.8 Describe leadership development and its impact

Answered: 1 week ago

Question

9.6 Explain what management development is and why it is important.

Answered: 1 week ago