1) Under May Co.'s job order costing system manufacturing overhead is applied to work in process...

 

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1) Under May Co.'s job order costing system manufacturing overhead is applied to work in process using a predetermined annual overhead rate. During January 2012, May's transactions included the following: Direct materials issued to production Indirect materials issued to production Manufacturing overhead incurred Manufacturing overhead applied Direct labor costs $90,000 $ 8,000 $125,000 $113,000 $107,000 Required: May Co. had neither beginning nor ending work in process inventory. What were the costs of jobs completed in January 2012? 1) Under May Co.'s job order costing system manufacturing overhead is applied to work in process using a predetermined annual overhead rate. During January 2012, May's transactions included the following: Direct materials issued to production Indirect materials issued to production Manufacturing overhead incurred Manufacturing overhead applied Direct labor costs $90,000 $ 8,000 $125,000 $113,000 $107,000 Required: May Co. had neither beginning nor ending work in process inventory. What were the costs of jobs completed in January 2012?

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