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Exercise 4-13 Concord Fabricators produces protective covers for smart phones. Since the covers must be customized to each smart phone model, Concord uses a job
Exercise 4-13 Concord Fabricators produces protective covers for smart phones. Since the covers must be customized to each smart phone model, Concord uses a job order costing system. On September 1, the company reported the following inventory balances Direct Materials Work in Process Finished Goods $28,700 150,000 $257,000 During September, the following events occurred Concord purchased direct materials costing $974,000 on account. Concord used $433,000 in direct materials in production Concord's employees clocked 21,000 direct labor hours at an average wage rate of $10.02 per direct labor hour 1. 2. 4. The company incurred $170,000 in manufacturing overhead, including $28,000 in indirect labor costs Using direct labor hours as the application base, the company applied $168,000 of manufacturing overhead to jobs worked on in September. 6. The company completed production on jobs costing $856,000 7. The company delivered jobs costing $1,078,000 to customers. Calculate the ending September balance of the Direct Materials, Work in Process, and Finished Goods Inventory accounts. Ending September Balance Direct Materials Work in Process Finished Goods LIN TO VIDEO IN TO VIDEO Calculate total manufacturing costs for September Total manufacturing costs$ Click if you would like to Show Work for this question: Oeen Show Work
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