Question: ABC Company developed the following data for the current year. They use Job Costing and therefore incorporate the use of predetermined overhead rates when costing
ABC Company developed the following data for the current year. They use Job Costing and therefore incorporate the use of predetermined overhead rates when costing their jobs. Beginning work in process inventory $212,330 Direct materials used $167,075 Actual overhead $256,860 Applied (or allocated) overhead $258,732 Cost of goods manufactured $250,348 Total product (manufacturing) costs added to WIP during the year $768,991 What was the total amount of ABC Company's direct labor cost added to WIP during the year? HINT: this problem may have extraneous data in it that you don't actually need to solve the problem! Enter your number without commas or dollar signs
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