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Waterway Fabricators produces protective covers for smart phones. Since the covers must be customized to each smart phone model, Waterway uses a job order costing
Waterway Fabricators produces protective covers for smart phones. Since the covers must be customized to each smart phone model, Waterway uses a job order costing system. On September 1, the company reported the following inventory balances: Direct Materials $29,300 Work in Process $151,000 Finished Goods $257,000 During September, the following events occurred 1. Waterway purchased direct materials costing $1,041,000 on account 2. Waterway used $427,000 in direct materials in production. 3. Waterway's employees clocked 24,000 direct labor hours at an average wage rate of $13.01 per direct labor hour 4. The company incurred $179,000 in manufacturing overhead, including $26,000 in indirect labor costs. 5 Using direct labor hours as the application base, the company applied $164,000 of manufacturing overhead to jobs worked on in September 6. The company completed production on jobs costing $855,000 7. The company delivered jobs costing $1,075,000 to customers. Your answer is correct. Calculate the ending September balance of the Direct Materials, Work in Process, and Finished Goods Inventory account:s Ending September Balance 3543,300 Direct Materials Work in Process Finished Goods 99,240 7,000 Attempts: 1 of 15 used Calculate total manufacturing costs for September Total manufacturing costs $ Attempts: 0 of 15 used
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