The following information was taken from the accounting records of Reliable Tool Corporation: Work in process inventory, beginning of the year - $35,000 Cost of direct materials used - 260,000 - Direct labor cost applied to production 150,000 Cost of finished goods manufactured - 707,750 Overhead is assigned to production at $300,000. Compute the amount of the work in process inventory on hand at year-end.
The following information was taken from the accounting records of Reliable Tool Corporation: Work in process inventory, beginning of the year - $35,000 Cost of direct materials used - 260,000 - Direct labor cost applied to production 150,000 Cost of finished goods manufactured - 707,750 Overhead is assigned to production at $300,000. Compute the amount of the work in process inventory on hand at year-end.
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6PB: During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of...
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