River Falls Manufacturing uses a normal cost system and had the following data available for 2018: Direct
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Question:
River Falls Manufacturing uses a normal cost system and had the following data available for 2018:
Direct materials purchased on account $154,000
Direct materials requisitioned $84,000
Direct labor cost incurred $134,000
Factory overhead incurred $145,000
Cost of goods completed $286,000
Cost of goods sold $254,000
Beginning direct materials inventory $25,000
Beginning WIP inventory $68,000
Beginning finished goods inventory $50,000
Overhead application rate, as a percent of direct−labor costs 100%. The ending balance of work−in−process inventory is________.
Related Book For
Management Accounting
ISBN: 978-0132570848
6th Canadian edition
Authors: Charles T. Horngren, Gary L. Sundem, William O. Stratton, Phillip Beaulieu
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