**Current Attempt in Progress**Oriole, Inc. completed Job No. B14 during 2022. The job cost sheet listed the following:- **Direct materials**: $70,000- **Direct labor**: $65,000- **Manufacturing overhead applied**: $30,000- **Units produced**: 4,000 units- **Units sold**: 3,000 units*Question*: What is the cost of the finished goods on hand from this job?- $165,000- $123,750- $41,250- $147,500Options: [Save for Later] [Submit Answer]Attempts: 0 of 1 used

Name: **Current Attempt in Progress**Oriole, Inc. completed Job No. B14 dur
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Description: **Current Attempt in Progress**Oriole, Inc. completed Job No. B14 during 2022. The job cost sheet listed the following:- **Direct materials**: $70,000- **Direct labor**: $65,000- **Manufacturing overhead applied**: $30,000- **Units produced**: 4,000

Business

Accounting

Oriole, Inc. completed Job No. B14 during 2022. The job cost sheet listed the following: Direct materials Direct labor Manufacturing overhead applied Units produced Units sold $70000 $65000 $30000 4000 units 3000 units What is the cost of the finished goods on hand from this job? O $165000

Oriole, Inc. completed Job No. B14 during 2022. The job cost sheet listed the following: Direct materials Direct labor Manufacturing overhead applied Units produced Units sold $70000 $65000 $30000 4000 units 3000 units What is the cost of the finished goods on hand from this job? O $165000

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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Morant, Inc. uses a job order costing system and applies overhead on the basis of 125% of direct labor cost. On June 1, 2024, the balance in the work in process inventory account was $197,100. During June, Morant had the following transactions: Raw materials purchased Raw materials used Direct labor costs incurred Actual manufacturing overhead costs incurred Cost of completed jobs $50,200 $50,800 $48,200 $63,700 $87,000 Assume all raw materials are direct materials. What is the balance in Morant's work in process inventory account at June 30? (Hint: The slide with the fire trucks... what affects the work in process account?] 1
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