Tableau DA 15-1: Quick Study, Computing cost of direct materials used LO P1

Raw Materials:

Nov 30 - $10,000

Dec 31 - $12,000

Work in Process:

Nov 30 - $15,000

Dec 31 - $20,000

Finished Goods:

Nov 30 - $7,500

Dec 31 - $10,000

Factory Overhead for December:

Indirect Materials - $5,000

Indirect Labor - $7,000

Other Overhead Costs - $30,000

Sales, Materials, and Payroll for December

Factory Payroll - $57,000

Raw Materials Purchases - $40,000

Sales - $200,000

Predetermined Overhead Rate Based on Direct Labor Cost - 70%

As consultants, we are hired to help the company track and report costs. The following Tableau Dashboard is provided to assist us in our analysis. Inventories Raw Materials Work in Process Finished Goods $21,000 ---------- $18,000 $15,000 $12,000 $9,000 $6,000 $3,000 $0 November 30 December 31 November 30 December 31 November 30 December 31 Factory Overhead for December Sales, Materials, and Payroll for December Indirect materials Indirect labor Factory payroll Raw materials purchases Total Overhead $42,000 Sales Other overhead costs Predetermined Overhead Rate Predetermined overhead rate based on direct labor cost 70% #tableau