The following account balances at the beginning of January were selected from the general ledger of...
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The following account balances at the beginning of January were selected from the general ledger of Superior Juice Manufacturing Company: Work in process inventory Raw materials inventory Finished goods inventory Additional data $0 $28,100 $40,900 1. Actual manufacturing overhead for January amounted to $68,100. 2. Total direct labor cost for January was $63,600. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $251,000 of direct labor cost and $301,200 of manufacturing overhead costs. 4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5500 (1300 direct labor hours) and total direct material charges were $14,700. 5. Cost of direct materials placed in production during January totaled $123,100. There were no indirect material requisitions during January. 6. January 31 balance in raw materials inventory was $35,000. 7. Finished goods inventory balance on January 31 was $35,400. What is the cost of goods sold for January (before considering overallocated or underallocated MOH)? The following account balances at the beginning of January were selected from the general ledger of Superior Juice Manufacturing Company: Work in process inventory Raw materials inventory Finished goods inventory Additional data $0 $28,100 $40,900 1. Actual manufacturing overhead for January amounted to $68,100. 2. Total direct labor cost for January was $63,600. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $251,000 of direct labor cost and $301,200 of manufacturing overhead costs. 4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5500 (1300 direct labor hours) and total direct material charges were $14,700. 5. Cost of direct materials placed in production during January totaled $123,100. There were no indirect material requisitions during January. 6. January 31 balance in raw materials inventory was $35,000. 7. Finished goods inventory balance on January 31 was $35,400. What is the cost of goods sold for January (before considering overallocated or underallocated MOH)?
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Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
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