Question
Chavez Corporation reported the following data for the month of July: Inventories: BeginningEndingRaw materials$47,000$40,000Work in process$26,000$37,000Finished goods$42,000$57,000 Additional information: Raw materials purchases$76,000Direct labor cost$101,000Manufacturing overhead
Chavez Corporation reported the following data for the month of July:
Inventories:
BeginningEndingRaw materials$47,000$40,000Work in process$26,000$37,000Finished goods$42,000$57,000
Additional information:
Raw materials purchases$76,000Direct labor cost$101,000Manufacturing overhead cost incurred$69,000Indirect materials included in manufacturing
overhead cost incurred$12,000Manufacturing overhead cost applied to Work in Process$68,000
Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.
The direct materials cost for July is:
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