Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $210,000 of raw materials
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Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $210,000 of raw materials on credit; issued materials to production of $205,000 of which $33,000 were indirect. Minstrel incurred a factory payroll of $156,000, of which $43,000 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost.
Minstrel's beginning and ending Work in Process Inventory are $16,500 and $29,000 respectively.
Compute the cost of jobs transferred to Finished Goods Inventory.
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
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