Job #2365 incurred the following during production: Direct Materials: $25,000 Manufacturing Labor: 45 hrs. Packaging materials: $1,000 Packing and shipping labor: 5 hrs. The following data is also available for the company: Overhead costs for the period $3,000 Indirect Labor (machine maintenance) 20 hrs. The company incurs costs at the following rates:
Job #2365 incurred the following during production: Direct Materials: $25,000 Manufacturing Labor: 45 hrs. Packaging materials: $1,000 Packing and shipping labor: 5 hrs. The following data is also available for the company: Overhead costs for the period $3,000 Indirect Labor (machine maintenance) 20 hrs. The company incurs costs at the following rates:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Job #2365 incurred the following during production:
Direct Materials:
$25,000
Manufacturing Labor:
45 hrs.
Packaging materials:
$1,000
Packing and shipping labor:
5 hrs.
The following data is also available for the company:
Overhead costs for the period
$3,000
Indirect Labor (machine maintenance)
20 hrs.
The company incurs costs at the following rates:
Manufacturing labor:
$20/hr.
Auxiliary labor (maintenance, packaging, etc.)
$15/hr.
Overhead allocation
$3 per dollar of manufacturing labor
Given this information, what was the total cost of the job that was transferred from Work in Process Inventory to the
Finished Goods Inventory?
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