Question
Under Eagle Co.'s job costing system, manufacturing overhead is applied to work in process using a predetermined annual overhead rate. During February, Eagle's transactions included
Under Eagle Co.'s job costing system, manufacturing overhead is applied to work in process using a predetermined annual overhead rate. During February, Eagle's transactions included the following:
Direct materials sent to production. | ps | 96,000 | ||
Indirect materials sent to production | 14,000 | |||
Manufacturing overhead incurred | 131,000 | |||
Manufacturing overhead applied | 119,000 | |||
Direct labor costs | 113,000 | |||
Eagle had no beginning or ending inventory in work-in-process inventory.
What was the cost of the work completed in February? (adapted to CPA)
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Managerial Accounting
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