Question

Morning Enterprises produces clocks. It has a JIT assembly process and uses backflush costing to record production costs. Overhead is assigned at a rate of $17 per assembly labor hour. There were no beginning inventories in March. During March, the following operating data were generated:
Cost of direct materials purchased and used ........ $53,200
Direct labor costs incurred ............... $27,300
Overhead costs assigned ............... ?
Assembly hours worked .............. . 3,840 hours
Ending work in process inventory ............ $1,050
Ending finished goods inventory ............ . $960
Using T accounts, show the flow of costs through the backflush costing system. What is the total cost of goods sold in March?



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  • CreatedMarch 26, 2014
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