A.G.C. Inc. provided you with the following information about its costs in 2023: Budgeted costs Actual costs 130000 225000 Direct materials used Direct labour used Variable overhead Fixed overhead Direct labour hours Work in process inventory Finished goods inventory Cost of goods sold 90000 300000 Expected 10000 140000 250000 100000 290000 Actual Required 1 Calculate the predetermined overhead rate. 2 Calculate the cost of goods manufactured of coct of goods sold 10600 Beginning balance Ending balance 30000 75000 25000 60000 ? The company allocated overhead on the basis of direct labour hours

A.G.C. Inc. provided you with the following information about its costs in 2023: Budgeted costs Actual costs 130000 225000 Direct materials used Direct labour used Variable overhead Fixed overhead Direct labour hours Work in process inventory Finished goods inventory Cost of goods sold 90000 300000 Expected 10000 140000 250000 100000 290000 Actual Required 1 Calculate the predetermined overhead rate. 2 Calculate the cost of goods manufactured of coct of goods sold 10600 Beginning balance Ending balance 30000 75000 25000 60000 ? The company allocated overhead on the basis of direct labour hours

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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