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Quality boxes limited manufactures fine handcrafted, wooden jewellery boxes. The company uses a job costing system for its production costs, and manufacturing overhead is applied
Quality boxes limited manufactures fine handcrafted, wooden jewellery boxes. The company uses a job costing system for its production costs, and manufacturing overhead is applied on the basis of direct labour costs to all jobs. It's predetermined manufacturing overhead rate is based on a cost formula that is estimated $390,000 of manufacturing overhead for an estimated activity level of $100,000 direct labor cost. During the month of July, the company processed three jobs: B50, C81, and G60, of which B50 was started in June.
July 1 July 31 Inventories: $ 36,600 $ 41,200 Direct Materials ? Work-in-Process Finished Goods
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