Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 6 During the year ended 30 June 2019, Fast Fones Industries Pty Ltd incurred the following costs. Direct labour $841,300 Direct material 2,870,600 Factory

image text in transcribed

image text in transcribed

Question 6 During the year ended 30 June 2019, Fast Fones Industries Pty Ltd incurred the following costs. Direct labour $841,300 Direct material 2,870,600 Factory overhead 6,889,440 The company charges factory overhead costs to work in process inventory and finished goods inventory using an overhead application rate based on direct materials costs. A. Determine the company's overhead application rate. (Round answer to 2 decimal places, e.g. 15.25.) Company's overhead application rate $ per DM$ If the company's ending finished goods inventory of $942,600 included $28,700 of direct labour costs, determine the inventory's material and overhead costs. (Round answers to o decimal places, e.g. 1,525.) Direct material Overhead

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

Financial And Managerial Accounting Information For Decisions

Authors: John Wild, Ken Shaw, Barbara Chiappetta

7th Edition

1259726703, 9781259726705

More Books

Students also viewed these Accounting questions