Question
Selected accounts with some debits and credits omitted are presented as follows: Work in Process Oct.01 Balance $261,720 Oct.31 Goods finished $191,500 Oct.31 Direct materials
Selected accounts with some debits and credits omitted are presented as follows:
| Work in Process | |||||
| Oct.01 | Balance | $261,720 | Oct.31 | Goods finished | $191,500 |
| Oct.31 | Direct materials | X | |||
| Oct.31 | Direct labor | $47,500 | |||
| Oct.31 | Factory overhead | X |
| Factory Overhead | |||||
| Oct.01-31 | Costs incurred | $95,880 | Oct.01 | Balance | $12,310 |
| Oct.31 | Applied | ||||
| (30% of direct labor cost) | X |
If the balance of Work in Process at October 31 is $198,820, what was the amount of factory overhead applied in October?
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Management Accounting Information for Decision-Making and Strategy Execution
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
6th Edition
137024975, 978-0137024971
