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Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $188,000 of raw materials on credit; issued materials to the production of $215,000 of which $10,000 were indirect. Minstrel incurred a factory payroll of $159,000, of which $20,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The total manufacturing costs added during the period are: a. $552,500. b. $612,500. c. $582,500. d. $602,500. e. $562,500.

Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $188,000 of raw materials on credit; issued materials to the production of $215,000 of which $10,000 were indirect. Minstrel incurred a factory payroll of $159,000, of which $20,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The total manufacturing costs added during the period are: a. $552,500. b. $612,500. c. $582,500. d. $602,500. e. $562,500.

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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Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $188,000 of raw materials on credit; issued materials to the production of $215,000 of which $10,000 were indirect. Minstrel incurred a factory payroll of $159,000, of which $20,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The total manufacturing costs added during the period are: a. $552,500. b. $612,500. c. $582,500. d. $602,500. e. $562,500.
Transcribed Image Text:Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $188,000 of raw materials on credit; issued materials to the production of $215,000 of which $10,000 were indirect. Minstrel incurred a factory payroll of $159,000, of which $20,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The total manufacturing costs added during the period are: a. $552,500. b. $612,500. c. $582,500. d. $602,500. e. $562,500.
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