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Christine Corp. applies manufacturing overhead to production at 90% of direct labor cost. During 2015, manufacturing overhead of $225,810 was applied to production; actual manufacturing
Christine Corp. applies manufacturing overhead to production at 90% of direct labor cost. During 2015, manufacturing overhead of $225,810 was applied to production; actual manufacturing overhead was $189,000. Beginning Work in Process Inventory was $24,800, and beginning Finished Goods Inventory was $45,000. Work in Process Inventory decreased by 15% during the year and Finished Goods Inventory decreased by 10% during the year. Adjusted Cost of Goods Sold was $622,800 for 2015.
Complete the following schedule:
Direct material | ? |
Direct labor | 250,900 |
Manufacturing Overhead | 225810 |
Current Manufacturing costs | |
Beg Work in process | 24,800 |
End Work in process | 21,800 |
Cost of goods manufactured | |
Beg finished goods inventory | 45,000 |
ending finished goods inventory | 40,000 |
unadjusted Cost of goods sold | |
Adjusted overhead | 36,810 |
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