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Safe Tee, Inc. uses a job order system. The following transactions are for August 2019. Direct material purchases on account totaled 133,200. Direct labor cost
Safe Tee, Inc. uses a job order system. The following transactions are for August 2019.
- Direct material purchases on account totaled 133,200.
- Direct labor cost for the period totaled 111,880 for 2,797 direct labor hours.
- Factory overhead costs were applied to jobs at a rate of 60 per direct labor hour.
- Actual overhead costs for the period totaled 161,360.
- Goods costing (at normal) 360,670 were sold for 512,150.
- Underapplied or overapplied overhead is treated as an adjustment to cost of goods sold at month-end.
- Direct materials inventory was 10,500 and 24,400 on August 1 and August 31, respectively.
- Work-in-process inventory was 33,960 and 17,020 on August 1 and August 31, respectively.
- There was no finished goods inventory on August 1, 2019.
The ending balance of finished goods inventory of Safe Tee, Inc amounted to ____________ .
The cost of Direct Materials used in production amounted to ____________ .
The Total Manufacturing Costs amounted to ____________ .
The Total Cost of Goods Manufactured amounted to ____________ .
The ADJUSTED Cost of Goods Sold amounted to ____________ .
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