Question
Farber Corporation uses a job-order costing system. The information below is from the financial records of the company for last year: Total manufacturing costs $2,500,000
Farber Corporation uses a job-order costing system. The information below is from the financial records of the company for last year:
Total manufacturing costs | $2,500,000 | |
Cost of goods manufactured | $2,425,000 | |
Predetermined overhead rate | 80% of direct labor cost | |
Applied overhead was 30% of total manufacturing costs. The Work in Process inventory at January 1 was 75% of the Work in Process inventory at December 31.
Calculate Total cost of direct material used by Farber Corporation.
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Managerial Accounting
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978-0073526706, 9780073526706
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