Dacosta Corporation had only one business going on May 1. Charged for the job with $2,250 in
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Question:
Dacosta Corporation had only one business going on May 1. Charged for the job with $2,250 in direct materials, $6,990 in direct labor and $10,062 overall manufacturing cost. The company assigns overhead costs to jobs using a predetermined overhead rate of $19.30 per direct labor hour.
The following activity was recorded during the month of May:
Raw materials (all direct materials): | ||
Initial balance | $ | 8.950 |
Bought during the month | $ | 38.450 |
Used in production | $ | 39.750 |
Manpower: | ||
Direct labor-hours worked during the month | 2.350 | |
Direct labor cost | $ | 24.960 |
Realized overall production costs | $ | 33.750 |
inventories: | ||
Raw materials, 30 May | ? | |
Work in progress, May 30 | $ | 17.054 |
Business process inventory on May 30 includes direct labor costs of $3,822. Raw materials consist only of items classified as direct materials.
Calculate Cost of goods produced for the month of May.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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