Fritas Company uses job-order costing and applies factory overhead based on 180% of direct labor cost in
Fantastic news! We've Found the answer you've been seeking!
Question:
Fritas Company uses job-order costing and applies factory overhead based on 180% of direct labor cost in its normal system.
The only job in process at January 1 has $6,000 in direct materials, $2,000 in direct labor and $3,600 in applied overhead.
Direct materials purchases totaled $45,000.
Direct materials inventory increased $2,000 during the year.
Direct labor cost was $40,000.
Actual overhead was $75,000.
The only job still in process at December 31 has $4,800 direct materials, $3,000 direct labor and some applied overhead.
What is the cost of goods manufactured?
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Posted Date: