The Modern Resources Company uses the production order costs system, and the company had an order...
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The Modern Resources Company uses the production order costs system, and the company had an order under operation on 12/31/2020, a total cost of 5000 riyals, of which 2000 were direct materials and the rest represented direct labor and indirect industrial costs. The manufacturing of the order was completed on 01/31/2021 and the industrial costs incurred to complete the manufacturing of the order (during the 1st month of 2021) were as follows (12,000 direct materials, 8000 direct labors, 50% of direct labor as indirect industrial costs). Note that the company's policy in general is to charge indirect industrial costs at a rate of 50% of direct work. Required: 1. Proof of production order restrictions in 2021 2. Total indirect industrial costs charged to production order in 2020 and 2021 The Modern Resources Company uses the production order costs system, and the company had an order under operation on 12/31/2020, a total cost of 5000 riyals, of which 2000 were direct materials and the rest represented direct labor and indirect industrial costs. The manufacturing of the order was completed on 01/31/2021 and the industrial costs incurred to complete the manufacturing of the order (during the 1st month of 2021) were as follows (12,000 direct materials, 8000 direct labors, 50% of direct labor as indirect industrial costs). Note that the company's policy in general is to charge indirect industrial costs at a rate of 50% of direct work. Required: 1. Proof of production order restrictions in 2021 2. Total indirect industrial costs charged to production order in 2020 and 2021
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Answer to part 1 No information regarding order restrictions in the given q... View the full answer
Related Book For
Cost management a strategic approach
ISBN: 978-0073526942
5th edition
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
Posted Date:
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