Partial operating data for Charing Cross Company are presented below. Charing Cross Companys management has set the
Question:
Partial operating data for Charing Cross Company are presented below. Charing Cross Company’s management has set the predetermined overhead rate for the current year at 80 percent of direct labor costs.
Account/Transaction....................December
Beginning Materials Inventory ............... $ 42,000
Beginning Work in Process Inventory............. 66,000
Beginning Finished Goods Inventory ............. 29,000
Direct materials used .................. 168,000
Direct materials purchased................ a
Direct materials purchased................ 382,000
Overhead applied .................... b
Cost of units completed .................. c
Cost of Goods Sold .................. 808,000
Ending Materials Inventory................ 38,000
Ending Finished Goods Inventory.............. d
Using T accounts and the data provided, compute the unknown values. Show all your computations.
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