PB7. Freeman Furnishings has summarized its data as shown. Direct labor hours will be used as the activity base to allocate overhead: Raw materials purchased Raw materials, beginning inventory Raw materials, ending inventory Work in process, beginning inventory Work in process, ending inventory Estimated overhead Depreciation of factory building Factory real estate taxes Factory utility expenses Indirect materials Indirect labor Direct labor cost Direct labor hours incurred Estimated direct labor hours Compute the cost of goods manufactured. $320,000 15,000 14,000 35,000 37,000 300,000 50,000 7,382 45,000 20,000 11,000 100,000 24,000 25,000
PB7. Freeman Furnishings has summarized its data as shown. Direct labor hours will be used as the activity base to allocate overhead: Raw materials purchased Raw materials, beginning inventory Raw materials, ending inventory Work in process, beginning inventory Work in process, ending inventory Estimated overhead Depreciation of factory building Factory real estate taxes Factory utility expenses Indirect materials Indirect labor Direct labor cost Direct labor hours incurred Estimated direct labor hours Compute the cost of goods manufactured. $320,000 15,000 14,000 35,000 37,000 300,000 50,000 7,382 45,000 20,000 11,000 100,000 24,000 25,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:PB7. Freeman Furnishings has summarized its data as shown. Direct labor hours will be used as
the activity base to allocate overhead:
Raw materials purchased
Raw materials, beginning inventory
Raw materials, ending inventory
Work in process, beginning inventory
Work in process, ending inventory
Estimated overhead
Depreciation of factory building
Factory real estate taxes
Factory utility expenses
Indirect materials
Indirect labor
Direct labor cost
Direct labor hours incurred
Estimated direct labor hours
Compute the cost of goods manufactured.
$320,000
15,000
14,000
35,000
37,000
300,000
50,000
7,382
45,000
20,000
11,000
100,000
24,000
25,000
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