Oriole Company developed the following data for the current year: Beginning Work in Process Inventory $136000 Direct materials used Actual overhead Overhead applied Cost of goods manufactured Total manufacturing costs 240000 176000 186000 970000 896000 What is Oriole Company's direct labor cost for the year? $606000 O $334000 O $544000 ⚫ $470000 4

Oriole Company developed the following data for the current year: Beginning Work in Process Inventory $136000 Direct materials used Actual overhead Overhead applied Cost of goods manufactured Total manufacturing costs 240000 176000 186000 970000 896000 What is Oriole Company's direct labor cost for the year? $606000 O $334000 O $544000 ⚫ $470000 4

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter4: Activity-based Costing

Section: Chapter Questions

Problem 25E: Cushing, Inc., costs products using a normal costing system. The following data are available for...

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Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Overhead is applied on the basis of direct labor hours. Required: 1. What was the predetermined overhead rate? 2. What was the applied overhead for last year? 3. Was overhead over- or underapplied, and by how much? 4. What was the total cost per unit produced (carry your answer to four significant digits)?
During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of $125,900. Overhead is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
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