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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