FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials
used.
Work in Process Inventory
65,000
?
Beginning WIP
Direct materials.
Direct labor
Applied overhead
?
?
To finished goods
Ending WIP
75,000
Factory Overhead
153,000
155,000
Finished Goods Inventory
Beginning FG
55,000
280,000
285,000
Ending FG
50,000
Multiple Choice
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