Question
Randall Company manufactures products to customer specifications. A job costing system is used to accumulate production costs. Factory overhead cost was applied at 117% of
Randall Company manufactures products to customer specifications. A job costing system is used to accumulate production costs. Factory overhead cost was applied at 117% of direct labor cost. Selected data concerning the past year's operation of the company are presented below. January 1 December 31 Direct materials $72,700 $37,600 Work in process $62,400 $41,300 Finished goods $112,200 $92,000 Other information Direct materials purchases $309,000 Cost of goods available for sale $935,000 Actual factory overhead $244,700 The total manufacturing costs for the year are: $822,800 $801,700 $802,700 $823,800 $864,100
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