Deco Corporation uses a job costing system. On January 1, Deco corporations work in process inventory account had a balance of $76,000. During the year, materials requisitioned for use in production amounted to $120,100, of which $82,800 represented direct materials. Factory wages for the period were $231,000, of which $220,000 were for direct labor. Manufacturing overhead is allocated on the basis of 80% of direct labor cost. Actual overhead cost for the year was $125,100. Jobs costing $336,500 were completed during the year. The December 31 work in process inventory balance is Question 33 options: $155,000. $218,300. $172,080. $427,100
Deco Corporation uses a job costing system. On January 1, Deco corporations work in process inventory account had a balance of $76,000. During the year, materials requisitioned for use in production amounted to $120,100, of which $82,800 represented direct materials. Factory wages for the period were $231,000, of which $220,000 were for direct labor. Manufacturing overhead is allocated on the basis of 80% of direct labor cost. Actual overhead cost for the year was $125,100. Jobs costing $336,500 were completed during the year. The December 31 work in process inventory balance is Question 33 options: $155,000. $218,300. $172,080. $427,100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Deco Corporation uses a job costing system. On January 1, Deco corporations work in process inventory account had a balance of $76,000. During the year, materials requisitioned for use in production amounted to $120,100, of which $82,800 represented direct materials. Factory wages for the period were $231,000, of which $220,000 were for direct labor. Manufacturing overhead is allocated on the basis of 80% of direct labor cost. Actual overhead cost for the year was $125,100. Jobs costing $336,500 were completed during the year.
The December 31 work in process inventory balance is
The December 31 work in process inventory balance is
Question 33 options:
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$155,000.
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$218,300.
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$172,080.
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$427,100.
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