Chavez Corporation reported the following data for the month of July: Inventories: Raw materials Beginning Ending $ 29,000 $ 31,000 Work in process $ 17,000 $ 19,000 Finished goods $ 33,000 $ 48,000 Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process $ 67,000 $ 92,000 $ 60,000 $ 8,400 $ 59,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The direct materials cost for July is:
Chavez Corporation reported the following data for the month of July: Inventories: Raw materials Beginning Ending $ 29,000 $ 31,000 Work in process $ 17,000 $ 19,000 Finished goods $ 33,000 $ 48,000 Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process $ 67,000 $ 92,000 $ 60,000 $ 8,400 $ 59,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The direct materials cost for July is:
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
Problem 7E: The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units...
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