Last month, Centerville Company put $60,000 of materials into production. The Grinding Department used 8,000 direct labor

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Last month, Centerville Company put $60,000 of materials into production. The Grinding Department used 8,000 direct labor hours at a cost of $5.60 per hour, and the Machining Department used 4,600 direct labor hours at a cost of $6 per hour. Factory overhead is applied at a rate of $6 per labor hour in the Grinding Department and $8 per labor hour in the Machining Department. Inventory accounts had the following beginning and ending balances:
Last month, Centerville Company put $60,000 of materials into production.

Required:
Without preparing a formal income statement, compute the following:
(1) Total cost of work put into process
(2) Cost of completed jobs
(3) Cost of jobs sold
(4) Conversion cost
(5) Cost of materials purchased

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Cost Accounting

ISBN: 978-0759338098

14th edition

Authors: William K. Carter

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