Question
Dacosta Corporation had only one job in process on May 1. The job had been charged with $2650 of direct materials, $6990 of direct labor,
Dacosta Corporation had only one job in process on May 1. The job had been charged with $2650 of direct materials, $6990 of direct labor, and $10,174 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $20.10 per direct labor-hour. During May, the following activity was recorded: Raw materials (all direct materials): Beginning balance $ 9350 Purchased during the month $ 38,850 Used in production $ 40,150 Labor: Direct labor-hours worked during the month 2750 Direct labor cost incurred $ 25,360 Actual manufacturing overhead costs incurred $ 34,150 Inventories: Raw materials, May 30 ? Work in process, May 30 $ 17,158 Work in process inventory on May 30 contains $3894 of direct labor cost. Raw materials consist solely of items that are classified as direct materials.
The cost of goods manufactured for May was: Select one: A. $97,280 B. $110,770 C. $123,441 D. $120,785
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started