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Requirement 1. Use information in the first two bullet points to calculate (a) direct manufacturing labor costs in 2020 and (b) cost of direct materials
Requirement 1. Use information in the first two bullet points to calculate (a) direct manufacturing labor costs in 2020 and (b) cost of direct materials used in 2020 . (Abbreviation used: Manuf. = Manufacturing.) a) First identify the formula to calculate the direct manufacturing labor costs. Manufacturing overhead allocated Manufacturing overhead rate = Direct manufacturing labor costs The direct manufacturing labor costs in 2020 is More info - Total manufacturing costs, $8,300,000 - Manufacturing overhead allocated, $4,100,000 (allocated at a rate of 250% of direct manufacturing labor costs) - Work-in-process inventory on January 1,2020, \$420,000 - Cost of finished goods manufactured, $8,100,000
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