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Blasi Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Results of operations: Beginning inventories: Finished
Blasi Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Results of operations: Beginning inventories: Finished goods Estimated total manufacturing overhead at the beginning of the year Estimated direct labor-hours at the beginning of the year Raw materials (all direct) requisitioned for use in production Direct labor cost Actual direct labor-hours Manufacturing overhead: Indirect labor cost Other manufacturing overhead costs incurred Selling and administrative: Selling and administrative salaries Other selling and administrative expenses Cost of goods manufactured Sales revenue Cost of goods sold (unadjusted) Required: a. What is the total manufacturing cost added to Work in Process during the year? b. What is the cost of goods available for sale during the year? c. What is the net operating income for the year? Complete this question by entering your answers in the table below. $ 41,000 556,000 56,000 Areet labor-hours $ 510,000 $ 615,000 55,000 direct labor-hours $ 185,000 $ 515,000 295,000 315,000 $ 1,435,000 $ 3,330,000 $ 1,334,000 Required A Required B Required C What is the net operating income for the year? Net operating income < Required B Slaguinad C
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