Question
SJ INC. purchased 1,000 units of materials X at 5 per unit on January 2020 and another 1,000 units at 8 per unit on November
SJ INC. purchased 1,000 units of materials X at 5 per unit on January 2020 and another 1,000 units at 8 per unit on November 2020. Ending raw materials is 300 units. The company uses FIFO. Payroll data shows; 125 working hours at a rate of 40 per hour. Regular working hours is only 100 hours. OT rate premium is 30%.OT hours, if any is due to company's fault. OH rate is 80% of total Direct Labor cost. What is the manufacturing cost?
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel
17th edition
1119503663, 1119571480, 1-119-50368-2, 111950368X, 978-1119503668
