Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question Help Gardi Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost

Question Help

Gardi Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost category (manufacturing overhead). The following information is obtained for 2017.

-Total manufacturing costs, $8,350,000

- Manufacturing overhead allocated, $4,100,000 (allocated at rate of $250% of direct manufacturing labor costs)

- Work in process inventory on January 1, 2017, $350,000

- Cost of finished goods manufactured, $7,949,000

1. Use information in the first to bullet points to calculate (a) direct manufacturing labor costs in 2017 and (b) cost of direct materials used in 2017.

2. Calculate the ending work in process inventory on December 31, 2017

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

Ethical Obligations And Decision Making In Accounting Text And Cases

Authors: Steven Mintz

6th Edition

1264135947, 9781264135943

More Books

Students also viewed these Accounting questions

Question

What has been your desire for leadership in CVS Health?

Answered: 1 week ago

Question

Question 5) Let n = N and Y Answered: 1 week ago

Answered: 1 week ago

Question

Pollution

Answered: 1 week ago

Question

The fear of making a fool of oneself

Answered: 1 week ago