The following account balances at the beginning of January were selected from the general ledger of Ocean City Manufacturing Company $0 Work in process inventory Raw materials inventory $28.900 $40,100 Finished goods inventory Additional data 1. Actual manufacturing overhead for January amounted to $66.200 2 Total direct labor cost for January was $63,200 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $250,000 of direct labor cost and $350,G 4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5,800 (900 direct labor hours) and total direct material 5. Cost of direct materials placed in production during January totaled $123,600 There were no indirect material requisitions during January 6. January 31 balance in raw materials inventory was $35,800 7 Finished goods inventory balance on January 31 was $34,500 What is the cost of goods sold for January?
The following account balances at the beginning of January were selected from the general ledger of Ocean City Manufacturing Company $0 Work in process inventory Raw materials inventory $28.900 $40,100 Finished goods inventory Additional data 1. Actual manufacturing overhead for January amounted to $66.200 2 Total direct labor cost for January was $63,200 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $250,000 of direct labor cost and $350,G 4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5,800 (900 direct labor hours) and total direct material 5. Cost of direct materials placed in production during January totaled $123,600 There were no indirect material requisitions during January 6. January 31 balance in raw materials inventory was $35,800 7 Finished goods inventory balance on January 31 was $34,500 What is the cost of goods sold for January?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:The following account balances at the beginning of January were selected from the general ledger of Ocean City Manufacturing Company
$0
Work in process inventory
Raw materials inventory.
$28,900
$40,100
Finished goods inventory
Additional data
1. Actual manufacturing overhead for January amounted to $66 200
2. Total direct labor cost for January was $63,200
3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $250,000 of direct labor cost and $350,000
4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5,800 (900 direct labor hours) and total direct material chi
5 Cost of direct materials placed in production during January totaled $123,600 There were no indirect material requisitions during January
6. January 31 balance in raw materials inventory was $35,800
7 Finished goods inventory balance on January 31 was $34,500.
What is the cost of goods sold for January?
A $208,257
B. $316 200
OC. $252.400
OD. $232,700
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