A manufacturing company reports the following items: Work in process inventory, beginning balance: $1,000 Work in process inventory, ending balance: $3,000 Direct materials: $5,000 Direct labor: $7,000 Factory overhead: $4,000 The cost of goods manufactured is $

A manufacturing company reports the following items: Work in process inventory, beginning balance: $1,000 Work in process inventory, ending balance: $3,000 Direct materials: $5,000 Direct labor: $7,000 Factory overhead: $4,000 The cost of goods manufactured is $

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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Question

What is the cost of goods manufactured of this general accounting question?

A manufacturing company reports the following items:
Work in process inventory, beginning balance: $1,000
Work in process inventory, ending balance: $3,000
Direct materials: $5,000
Direct labor: $7,000
Factory overhead: $4,000
The cost of goods manufactured is $

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A company calculated the predetermined overhead based on an estimated overhead of $70.000, and the activity for the cost driver was estimated as 2,500 hours. If product A utilized 1,350 hours and product 8 utilized 1,100 hours, what was the total amount of overhead assigned to the products? A. $35000 B. $30.800 C. $37,800 D. $68,600
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