Cary Fabrication uses a normal cost system and had the following data available for 2022: Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory $160,000 ninety-four thousand 120,000 138,000 280,000 245,000 30,000 72,000 60,000 Overhead application rate, as a percent of direct labor The ending balance of the direct materials inventory is: 120% a. $66,000 b. $96,000 c. $164,000 d. $124,000 e. None of the above

Cary Fabrication uses a normal cost system and had the following data available for 2022: Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory $160,000 ninety-four thousand 120,000 138,000 280,000 245,000 30,000 72,000 60,000 Overhead application rate, as a percent of direct labor The ending balance of the direct materials inventory is: 120% a. $66,000 b. $96,000 c. $164,000 d. $124,000 e. None of the above

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter2: Accounting For Materials

Section: Chapter Questions

Problem 13P: Webster Company uses backflush costing to account for its manufacturing costs. The trigger points...

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