23.During last period, a company's overhead rate was 150% of direct labor cost. This caused factory overhead to be $10,000 overapplied. Use the following incomplete accounts to determine the cost of goods sold. Goods in Process Inventory Beg Bal 10,000 DM 80,000 DL. OH End. Bal 20,000 ? COGM ? Factory Overhead 50.000 A.$130,000 B.$170,000 C.$40,000 D.$60,000 E.$90,000 Finished Goods Inventory Beg. Bal 30,000 ? End. Bal. 70.000

23.During last period, a company's overhead rate was 150% of direct labor cost. This caused factory overhead to be $10,000 overapplied. Use the following incomplete accounts to determine the cost of goods sold. Goods in Process Inventory Beg Bal 10,000 DM 80,000 DL. OH End. Bal 20,000 ? COGM ? Factory Overhead 50.000 A.$130,000 B.$170,000 C.$40,000 D.$60,000 E.$90,000 Finished Goods Inventory Beg. Bal 30,000 ? End. Bal. 70.000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6PA: During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of...

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During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of $125,900. Overhead is applied at the rate of 75% of the direct labor cost. These are the inventory balances: Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
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XYZ Company had the following information for the year: Direct materials used OMR 110,000 Direct labor incurred (4,000 hours) OMR 150,000 Actual manufacturing overhead incurred OMR 166,000 The Company used a predetermined overhead rate of OMR 35 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of OMR 17,000. What was cost of goods manufactured? O a. OMR 393,000 O b. OMR 363,000 O C. OMR 418,000 O d. None of the given answer is correct O e. OMR 383,000
XYZ Company had the following information for the year: Direct materials used OMR 110,000 Direct labor incurred (4,000 hours) OMR 150,000 Actual manufacturing overhead incurred OMR 166,000O The Company used a predetermined overhead rate of OMR 35 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Irentory balance of OMR 17,000. What was cost of goods manufactured? a. OMR 383,000 O b. OMR 418,000 Ос. OMR 363,000 d. OMR 393,000 е. None of the given answer is correct
XYZ Company had the following information for the year: Direct materials used OMR 110,000 Direct labor incurred (4,000 hours) OMR 150,000 Actual manufacturing overhead incurred OMR 166,000 The Company used a predetermined overhead rate of OMR 30 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of OMR 17,000. What was cost of goods manufactured? O a. None of the given answer is correct Ob. OMR 418,000 Oc. OMR 383,000 O d. OMR 393,000
XYZ Company had the following information for the year: Direct materials used OMR 110,000 Direct labor incurred (5,000 hours) OMR 150,000 Actual manufacturing overhead incurred OMR 166,000 The Company used a predetermined overhead rate of OMR 30 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of OMR 17,000. What was cost of goods manufactured? O a. None of the given answer is correct O b. OMR 393,000 Oc OMR 363,000 O d. OMR 383,000 O e. OMR 418,000 NEXT PAGE REVIOUS PAGE ACCT2121 Origin Co #general-chat- a Spotify Free
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