Wayland Manufacturing uses a normal cost system and had the following data available for 2010: Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory $148,000 82,000 130,000 146,000 292.000 256,000 26,000 64,000 58,000 Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct-labor costs 125% The ending balance of the direct materials inventory is: a. $82,000 b. $108,000 c. $174,000 d. $92,000 e. None of the above

Wayland Manufacturing uses a normal cost system and had the following data available for 2010: Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory $148,000 82,000 130,000 146,000 292.000 256,000 26,000 64,000 58,000 Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct-labor costs 125% The ending balance of the direct materials inventory is: a. $82,000 b. $108,000 c. $174,000 d. $92,000 e. None of the above

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter2: Accounting For Materials

Section: Chapter Questions

Problem 13P: Webster Company uses backflush costing to account for its manufacturing costs. The trigger points...

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Cullumber Company reported the following amounts for May: Raw materials purchased Beginning raw materials inventory Ending raw materials inventory Direct labor incurred Indirect materials requisitioned and used Actual manufacturing overhead costs Beginning work-in-process inventory Ending work-in-process inventory $257000 $257000. $256800. ◆ $259900. O $261100. 12300 8200 54000 4300 40000 15400 12300 How much is the cost of direct materials used in production?
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