Question
Job #2365 incurred the following during production: Direct Materials: $25,000 Manufacturing Labor: 45 hrs. Packaging materials: $1,000 Packing and shipping labor: 5 hrs. The following
Job #2365 incurred the following during production:
Direct Materials: | $25,000 |
Manufacturing Labor: | 45 hrs. |
Packaging materials: | $1,000 |
Packing and shipping labor: | 5 hrs. |
The following data is also available for the company:
Overhead costs for the period | $3,000 |
Indirect Labor (machine maintenance) | 20 hrs. |
The company incurs costs at the following rates:
Manufacturing labor: | $20/hr. |
Auxiliary labor (maintenance, packaging, etc.) | $15/hr. |
Overhead allocation | $3 per dollar of manufacturing labor |
Given this information, what was the total cost of the job that was transferred from Work in Process Inventory to the Finished Goods Inventory?
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