Weatherhead Inc. provided the following data for March. There was no initial inventory; as a result, all
Question:
Weatherhead Inc. provided the following data for March. There was no initial inventory; as a result, all of the direct materials, direct labor and manufacturing overheads listed below are for the current month.
Work In Progress | Finished goods | cost of goods sold | Total | |||||||||
Direct materials | $ | 4.240 | $ | 14.720 | $ | 41.680 | $ | 60.640 | ||||
direct labor | 10.040 | 29.440 | 83.840 | 123.320 | ||||||||
Production overhead applied | 5.830 | 11.110 | 34.980 | 51.920 | ||||||||
Total | $ | 20.110 | $ | 55.270 | $ | 160.500 | $ | 235.880 | ||||
Over $4,200 in production overhead for the month was applied.
The company distributes the under- or over-applied general production expenses in these accounts over the general production expenses applied during the month between the ongoing products, finished goods and the cost of goods sold at the end of the month.
After allocating under- or over-applied manufacturing overheads for the month, work-in-progress inventory at the end of March is closest to: Rounded interface calculations to the nearest full percent.)
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer