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Pharoah Sports has determined the following unit costs for each of its products: Direct materials Direct labor Manufacturing overhead Total unit cost Sales price per
Pharoah Sports has determined the following unit costs for each of its products: Direct materials Direct labor Manufacturing overhead Total unit cost Sales price per unit Pants $6.00 4.00 5.00 Jerseys $11.00 3.20 4.00 $18.20 Jackets $48.00 24.00 38.00 $15.00 $110.00 $180.00 $18.00 $22.20 On May 31, Pharoah Sports' Work in Process Inventory consisted of the following items: Job Units PA-1247-Pants JE-1397- Jerseys JA 426-Jackets 100 200 50 Accumulated Cost $1,050 2,920 4,150 $8,120 During June, a total of $245,900 in direct materials and $128,380 in direct labor costs were incurred. Units finished and sold during June were as follows: Product Units Finished Units Sold Pants Jerseys Jackets 13,500 3,200 2,500 14,000 3.100 2.500 (a) Your answer is correct. Given that Pharoah Sports uses direct labor dollars as its application base, what is the company's predetermined overhead rate? (Round answer to O decimal places, e.g. 15%.) Predetermined overhead rate 125 % e Textbook and Media Attempts: 1 of 4 used (d) Your answer is correct. Calculate the Ending Work in Process Inventory balance on June 30. (Round answer to O decimal places, e.g. 5,275.) Ending Work in Process Inventory balance $ 7135 e Textbook and Media Attempts: 1 of 4 used (e) X Your answer is incorrect. Calculate Cost of Goods Sold for June. (Round answer to O decimal places, eg. 5,275.) Cost of Goods Sold $ 563560
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