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Minstrel Manufacturing uses a job order costing system. During the month, Minstrel purchased $220,800 of raw materials on credit; issued materials to production of $214,000 of which $35,700 were indirect. Minstrel incurred a factory payroll of $161,400, of which $45,700 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $17,400 and $30,800 respectively. Compute the cost of jobs transferred to Finished Goods Inventory. Multiple Choice $454,900. $613,600. $454,150. $483,700. $452,900.

Minstrel Manufacturing uses a job order costing system. During the month, Minstrel purchased $220,800 of raw materials on credit; issued materials to production of $214,000 of which $35,700 were indirect. Minstrel incurred a factory payroll of $161,400, of which $45,700 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $17,400 and $30,800 respectively. Compute the cost of jobs transferred to Finished Goods Inventory. Multiple Choice $454,900. $613,600. $454,150. $483,700. $452,900.

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 the month, Minstrel purchased $220,800 of raw materials on credit; issued materials to production of $214,000 of which $35,700 were indirect. Minstrel incurred a factory payroll of $161,400, of which $45,700 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $17,400 and $30,800 respectively. Compute the cost of jobs transferred to Finished Goods Inventory. Multiple Choice $454,900. $613,600. $454,150. $483,700. $452,900.
Transcribed Image Text:Minstrel Manufacturing uses a job order costing system. During the month, Minstrel purchased $220,800 of raw materials on credit; issued materials to production of $214,000 of which $35,700 were indirect. Minstrel incurred a factory payroll of $161,400, of which $45,700 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $17,400 and $30,800 respectively. Compute the cost of jobs transferred to Finished Goods Inventory. Multiple Choice $454,900. $613,600. $454,150. $483,700. $452,900.
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