April 1April 30Direct materials $67,000 $62,000 Work-in-process 145,000 171,000 Finished goods 85,000 78,000 Production data for the month of April is: Direct labor$200,000 Actual overhead 132,000 Direct materials purchased 163,000 Transportation in 4,000 Purchase Returns and Allowances 2,000 Beckett uses one overhead control account and charges overhead to production at 70% of direct labor cost. The company does not formally recognize over- or underapplied overhead until year-end. What is Beckett's cost of goods transferred to finished goods inventory for April?
April 1April 30Direct materials $67,000 $62,000 Work-in-process 145,000 171,000 Finished goods 85,000 78,000 Production data for the month of April is: Direct labor$200,000 Actual overhead 132,000 Direct materials purchased 163,000 Transportation in 4,000 Purchase Returns and Allowances 2,000 Beckett uses one overhead control account and charges overhead to production at 70% of direct labor cost. The company does not formally recognize over- or underapplied overhead until year-end. What is Beckett's cost of goods transferred to finished goods inventory for April?
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter7: The Master Budget And Flexible Budgeting
Section: Chapter Questions
Problem 12E
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April 1April 30Direct materials $67,000 $62,000 Work-in-process 145,000 171,000 Finished goods 85,000 78,000
Production data for the month of April is:
Direct labor$200,000 Actual
Beckett uses one overhead control account and charges overhead to production at 70% of direct labor cost. The company does not formally recognize over- or underapplied overhead until year-end.
What is Beckett's cost of goods transferred to finished goods inventory for April?
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