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give me solution Fayetteville Manufacturing Co. produces only one product. You have obtained the following information from the corporation's books and records for the year
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Fayetteville Manufacturing Co. produces only one product. You have obtained the following information from the corporation's books and records for the year ended December 31, 2011: a. Total manufacturing cost during the year was $1,500,000, including direct materials, direct labor and factory overhead, b. Cost of goods manufactured during the year was $1,460,000. e. Factory overhead charged to work in process was 60% of direct labor cost and 30% of the total manufacturing cost, d. The beginning work in process inventory, January 1, was 50% of the ending work in process Inventory, December 31. Required: (Show necessary calculations) 1- Calculate the amount of WIP ending Inventory(2) 2- Calculate the amount of Direct Labor Cost (2)Step by Step Solution
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