Sunland Corporation incurred the following transactions. 1. Purchased raw materials on account $43,550. Raw Materials of $33,840 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,420 was classified as indirect materials. Factory labor costs incurred were $56,320. Time tickets indicated that $50,760 was direct labor and $5,560 was indirect labor. Manufacturing overhead costs incurred on account were $75,670. 2. 3. 4. 5. 6. Depreciation on the company's office building was $7,600. 7. Manufacturing overhead was applied at the rate of 150% of direct labor cost.
Sunland Corporation incurred the following transactions. 1. Purchased raw materials on account $43,550. Raw Materials of $33,840 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,420 was classified as indirect materials. Factory labor costs incurred were $56,320. Time tickets indicated that $50,760 was direct labor and $5,560 was indirect labor. Manufacturing overhead costs incurred on account were $75,670. 2. 3. 4. 5. 6. Depreciation on the company's office building was $7,600. 7. Manufacturing overhead was applied at the rate of 150% of direct labor cost.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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