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
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 30E: Proteger Company manufactures insect repellant lotion. The Mixing Department, the first process...
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Question
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
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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