Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Exercise 20-04 Manufacturing cost data for Pharoah Company, which uses a job order cost system, are presented below. Indicate the missing amount for each letter.
Exercise 20-04 Manufacturing cost data for Pharoah Company, which uses a job order cost system, are presented below. Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor cost and the rate is the same. (Round overhead rate to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,275.) Case A Case B Direct materials used (a) $92,500 54,000 143,200 Direct labor Manufacturing overhead applied 40,500 (d) Total manufacturing costs 152,650 Work in process 1/1/20 (b) 17,500 Total cost of work in process 211,300 (6) Work in process 12/31/20 (C) 16,200 Cost of goods manufactured 197,900 (9) Click if you would like to Show Work for this question: Open Show Work
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