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River falls management uses a normal cost system and hards the following data available for 2020  Direct materials purchased on account 159,000  Direct materials requisitions 81,000  Direct labor cost incurred 129,000  Cost of goods completed 289,000  Factory overheads incurred 142,000  Cost of good solds 260,000  Beginning direct materials inventory 26,000  Beginning work in process 66,000  Beginning finished goods inventory 55,000  Overhead application rates as a percentage of direct labor is 140% calculate ending balance work in process Inventory

River falls management uses a normal cost system and hards the following data available for 2020  Direct materials purchased on account 159,000  Direct materials requisitions 81,000  Direct labor cost incurred 129,000  Cost of goods completed 289,000  Factory overheads incurred 142,000  Cost of good solds 260,000  Beginning direct materials inventory 26,000  Beginning work in process 66,000  Beginning finished goods inventory 55,000  Overhead application rates as a percentage of direct labor is 140% calculate ending balance work in process Inventory

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6PA: During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of...
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River falls management uses a normal cost system and hards the following data available for 2020 

Direct materials purchased on account 159,000 

Direct materials requisitions 81,000 

Direct labor cost incurred 129,000 

Cost of goods completed 289,000 

Factory overheads incurred 142,000 

Cost of good solds 260,000 

Beginning direct materials inventory 26,000 

Beginning work in process 66,000 

Beginning finished goods inventory 55,000 

Overhead application rates as a percentage of direct labor is 140% calculate ending balance work in process Inventory 

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