Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing...

 

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Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing overhead $ 285,000 130,000 273,000 The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows: Raw material Work in process Finished goods $ 30,000 39,000 43,000 Each of these inventory balances was 10 percent higher at the end of the year. Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing overhead $ 285,000 130,000 273,000 The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows: Raw material Work in process Finished goods $ 30,000 39,000 43,000 Each of these inventory balances was 10 percent higher at the end of the year.

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