Dacosta Corporation had only one job in process on May 1. The job had been charged with $2,500 of direct materials, $6,966 of direct labor, and $10,132 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $19.80 per direct labor-hour. During May, the following activity was recorded: Raw materials (all direct materials): Beginning balance Purchased during the month Used in production $ 9,200 $38,700 $40,000 Labor: Direct labor-hours worked during the month 2,600 $25,210 $34,000 Direct labor cost incurred Actual manufacturing overhead costs incurred Inventories: Raw materials, May 30 Work in process, May 30 ? $17,119 Work in process inventory on May 30 contains $3,867 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The balance in the raw materials inventory account on May 30 was: Multiple Choice $7,900 $1.300 $29,500 $30,800

Dacosta Corporation had only one job in process on May 1. The job had been charged with $2,500 of direct materials, $6,966 of direct labor, and $10,132 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $19.80 per direct labor-hour. During May, the following activity was recorded: Raw materials (all direct materials): Beginning balance Purchased during the month Used in production $ 9,200 $38,700 $40,000 Labor: Direct labor-hours worked during the month 2,600 $25,210 $34,000 Direct labor cost incurred Actual manufacturing overhead costs incurred Inventories: Raw materials, May 30 Work in process, May 30 ? $17,119 Work in process inventory on May 30 contains $3,867 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The balance in the raw materials inventory account on May 30 was: Multiple Choice $7,900 $1.300 $29,500 $30,800

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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