Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 5 AAA manufacturing company had a balance of $100,000 in raw materials on the 1st of January. They purchased $800,000 of materials in the

image text in transcribed
QUESTION 5 AAA manufacturing company had a balance of $100,000 in raw materials on the 1st of January. They purchased $800,000 of materials in the period. At the end of the year, they had $100,000 of raw materials. Added to that they had $2,000,000 of direct labor for this year. The labor rate is $20 per hour. The fixed manufacturing overhead is $100.000 and the variable overhead cost is $3 per direct labor hour. 1. Calculate the cost of goods manufactured QUESTION 6 Direct materials for Job 001 were $3,000. The direct labor hour was 10 hours with $20 per hour and the POHR rate is $6 Calculate cost of goods sold to this business using a job order costing system

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Planning In The Public Sector Essential Skills For The Public Sector

Authors: Jennifer Bean , Lascelles Hussey

2nd Edition

1899448578,1899448446

More Books

Students also viewed these Finance questions