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Mallet Company has only Job 844 in process on March 1 of the current year. The job has been charged with $2,000 of direct material
Mallet Company has only Job 844 in process on March 1 of the current year. The job has been charged with $2,000 of direct material cost, $2,100 of direct labour cost, and $1,750 of manufacturing overhead cost. The company assigns overhead cost to jobs at a predetermined rate of 70% of direct labour cost. Any under- or overapplied overhead cost is closed out to Cost of Goods Sold at the end of the month. During March, the following activity and amounts were recorded by the company: Raw materials (all direct materials): Purchased during the month $20,200 Used in production $30,600 Labour: Direct labour hours worked during the month 2,100 Direct
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