Hi! I have a homework question I'm not sure if I'm doing it correctly. Below is the information from the question and my answer in bold.

Glass Company makes glass orders based on the customer specifications, so the company uses job costing to track costs.

The company uses direct labor hours as the cost driver for manufacturing overhead application.

Manufacturing overhead costs for the year: $787,500

Usage of direct labor hours for the year: 225,000

Beginning Work-in-process, March 1 (Job 57) $80,000

Beginning Finished Goods, March (Job 55) $150,000

Labor Information for March:

Direct labor hours:

Job 57 7,000

Job 58 8,000

Job 59 5,000

Labor costs:

Direct labor wages $420,000

Indirect labor wages $25,000

Supervisory salaries $30,000

Material Information for March:

Raw Materials, Inventory, March 1 $20,000

Purchase or raw material $220,000

Direct material requisitioned:

Job 57 $80,000

Job 58 $75,000

Job 59 $51,000

Other costs incurred in March:

Factory Utilities $7,000

Sales office Utilities $4,000

Administrative offices Utilities $3,000

Factory equip repair & maint costs $6,000

Depreciation on factory equipment $2,000

Manufacturing supplies purch & used $5,000

During March the following jobs were completed and sold for the following sales price:

Job 57 $200,000

Job 58 $250,000

Hint: You need to calculate the hourly rate and then compute direct labor cost per job.

1. Prepare a statement of cost of goods manufactured for March below. Use Manufacturing Overhead applied in your statement.

Glass Company

Statement of Cost of Goods Manufactured

For Month ending March 31, 20XX

2. Prepare an Income Statement for March below. The company does not close the over or underapplied overhead until the end of the year, so no adjustment is needed to Cost of Goods Sold.

Glass Company

Statement of Cost of Goods Manufactured

For Month ending March 31, 20XX