Chapter 12, Problem 35P

Provide correct solution and accounting question

Can you solve this general accounting problem with appropriate steps and explanations?

Using the information below for Sarnia Corporation, determine the cost of goods manufacturing during the current year:

Cypher Tech Solutions uses a job costing system and has a predetermined overhead rate of $28 per direct labor hour. This is based on estimated overhead of $30,800 and 1,100 estimated direct labor hours. In addition, Selling, General, and Administrative (SG&A) costs for the period totaled $142,000. Total units produced during the period were 1,400,000. Job #204 incurred direct material costs of $85 and four direct labor hours costing $76 per hour. What is the total cost of Job #204?

Calculate the cost of goods sold

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I am trying to find the accurate solution to this financial accounting problem with appropriate explanations.

Please provide the accurate answer to this general accounting problem using valid techniques.

Financial accounting question