Question
Cherry Hill Glass Company employs a normal costing system. The following information pertains to the year just ended. Total manufacturing costs were $1,310,000. Cost of
Cherry Hill Glass Company employs a normal costing system. The following information pertains to the year just ended. |
Total manufacturing costs were $1,310,000. |
Cost of goods manufactured was $1,275,500. |
Applied manufacturing overhead was 30 percent of total manufacturing costs. |
Manufacturing overhead was applied to production at a rate of 80 percent of direct-labor cost. |
Work-in-process inventory on January 1 was 75 percent of work-in-process inventory on December 31. 1. Compute Cherry Hills total direct-labor cost for the year. 2. Calculate the total cost of direct-material used during the year. 3. Compute the value of the companys work-in-process inventory on December 31. |
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