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? Multiple Choice A) $469,000. B) $477,000. C) $495,000. D) $484,000. E) None of these answers are correct

Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 14P: Abbey Products Company is studying the results of applying factory overhead to production. The...
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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 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?

Multiple Choice

  • A) $469,000.
  • B) $477,000.
  • C) $495,000.
  • D) $484,000.
  • E) None of these answers are correct
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