apanga Manufacturing Corporation uses a job-order costing system and started the oods inventory accounts. During October, Kapanga worked on three jobs and incu Job B18 $ 12,000 Job B19 $ 25,000 Job C11 $ 18,000 Direct materials Direct labor $ 8,000 $ 10,000 $ 5,000 apanga applies manufacturing overhead at a rate of 150% of direct labor cost. Duri
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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![Kapanga Manufacturing Corporation uses a job-order costing system and started the month of October with a zero balance in its work in process and finished
goods inventory accounts. During October, Kapanga worked on three jobs and incurred the following direct costs on those jobs:
Direct materials
Direct labor
Multiple Choice
$55,000
Kapanga applies manufacturing overhead at a rate of 150% of direct labor cost. During October, Kapanga completed Jobs B18 and B19 and sold Job B19.
How much is Kapanga's cost of goods manufactured for October?
$82,000
$78,000
Job B18
$ 12,000
$ 8,000
$50,000
Job B19
$ 25,000
$ 10,000
Job C11
$ 18,000
$ 5,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F66812b29-b126-47f7-8df3-fde8630ed77a%2F01c8aadb-6d6d-43e8-aff4-1db9132d2f58%2Fgzrphn5_processed.png&w=3840&q=75)
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