Barfield Mfg. Co. applies overhead to jobs at a rate of 140 percent of direct labor cost.
Question:
Barfield Mfg. Co. applies overhead to jobs at a rate of 140 percent of direct labor cost. The following account information is available.
Calculate the following items that are missing from Barfield’s account information:
a. Cost of goods sold
b. Cost of goods manufactured
c. Amount of overhead applied to production
d. Cost of direct material used
e. Cost of direct materialpurchased
Transcribed Image Text:
Direct Material Inventory Work in Process Inventory Beg. Balance 24,600 Purchases ? Beg. balance 56,000 Direct material Direct labor 395,000 Overhead 4,100 27,640 Finished Goods Inventory Cost of Goods Sold Beg. balance 90,000 Goods 1,890,000 completed 57,000
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a CGS is the amount credited to Finished Goods Inventory for the year 1890000 b Beg ...View the full answer
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Related Book For
Cost Accounting Foundations and Evolutions
ISBN: 978-1111626822
8th Edition
Authors: Michael R. Kinney, Cecily A. Raiborn
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