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Crane, Inc. uses job order costing for its line of dual zone wine refrigerators. The cost incurred for production during 2022 totaled $20000 of materials, $16000 of direct labor costs, and $13000 of manufacturing overhead applied. The company ships the refrigerators as soon as they are completed which results in no finished goods inventory on hand at the end of any year. Beginning Work in Process Inventory totaled $22000, and the ending balance is $16000. During the year, the company completed 25 refrigerators. How much is the cost per refrigerator? $1960 O $2200 O $2840 O $1720

Crane, Inc. uses job order costing for its line of dual zone wine refrigerators. The cost incurred for production during 2022 totaled $20000 of materials, $16000 of direct labor costs, and $13000 of manufacturing overhead applied. The company ships the refrigerators as soon as they are completed which results in no finished goods inventory on hand at the end of any year. Beginning Work in Process Inventory totaled $22000, and the ending balance is $16000. During the year, the company completed 25 refrigerators. How much is the cost per refrigerator? $1960 O $2200 O $2840 O $1720

FINANCIAL ACCOUNTING
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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Crane, Inc. uses job order costing for its line of dual zone wine refrigerators. The cost incurred for production during 2022 totaled $20000 of materials, $16000 of direct labor costs, and $13000 of manufacturing overhead applied. The company ships the refrigerators as soon as they are completed which results in no finished goods inventory on hand at the end of any year. Beginning Work in Process Inventory totaled $22000, and the ending balance is $16000. During the year, the company completed 25 refrigerators. How much is the cost per refrigerator? O $1960 O $2200 $2840 O $1720
Transcribed Image Text:Crane, Inc. uses job order costing for its line of dual zone wine refrigerators. The cost incurred for production during 2022 totaled $20000 of materials, $16000 of direct labor costs, and $13000 of manufacturing overhead applied. The company ships the refrigerators as soon as they are completed which results in no finished goods inventory on hand at the end of any year. Beginning Work in Process Inventory totaled $22000, and the ending balance is $16000. During the year, the company completed 25 refrigerators. How much is the cost per refrigerator? O $1960 O $2200 $2840 O $1720
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