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The following account balances at the beginning of January were selected from the general ledger of Ocean City Manufacturing Company $0 Work in process inventory Raw materials inventory $28.900 $40,100 Finished goods inventory Additional data 1. Actual manufacturing overhead for January amounted to $66.200 2 Total direct labor cost for January was $63,200 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $250,000 of direct labor cost and $350,G 4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5,800 (900 direct labor hours) and total direct material 5. Cost of direct materials placed in production during January totaled $123,600 There were no indirect material requisitions during January 6. January 31 balance in raw materials inventory was $35,800 7 Finished goods inventory balance on January 31 was $34,500 What is the cost of goods sold for January?

The following account balances at the beginning of January were selected from the general ledger of Ocean City Manufacturing Company $0 Work in process inventory Raw materials inventory $28.900 $40,100 Finished goods inventory Additional data 1. Actual manufacturing overhead for January amounted to $66.200 2 Total direct labor cost for January was $63,200 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $250,000 of direct labor cost and $350,G 4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5,800 (900 direct labor hours) and total direct material 5. Cost of direct materials placed in production during January totaled $123,600 There were no indirect material requisitions during January 6. January 31 balance in raw materials inventory was $35,800 7 Finished goods inventory balance on January 31 was $34,500 What is the cost of goods sold for January?

Principles of Cost Accounting
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 15E: The books of Petry Products Co. revealed that the following general journal entry had been made at...
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The following account balances at the beginning of January were selected from the general ledger of Ocean City Manufacturing Company $0 Work in process inventory Raw materials inventory. $28,900 $40,100 Finished goods inventory Additional data 1. Actual manufacturing overhead for January amounted to $66 200 2. Total direct labor cost for January was $63,200 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $250,000 of direct labor cost and $350,000 4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5,800 (900 direct labor hours) and total direct material chi 5 Cost of direct materials placed in production during January totaled $123,600 There were no indirect material requisitions during January 6. January 31 balance in raw materials inventory was $35,800 7 Finished goods inventory balance on January 31 was $34,500. What is the cost of goods sold for January? A $208,257 B. $316 200 OC. $252.400 OD. $232,700
Transcribed Image Text:The following account balances at the beginning of January were selected from the general ledger of Ocean City Manufacturing Company $0 Work in process inventory Raw materials inventory. $28,900 $40,100 Finished goods inventory Additional data 1. Actual manufacturing overhead for January amounted to $66 200 2. Total direct labor cost for January was $63,200 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $250,000 of direct labor cost and $350,000 4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5,800 (900 direct labor hours) and total direct material chi 5 Cost of direct materials placed in production during January totaled $123,600 There were no indirect material requisitions during January 6. January 31 balance in raw materials inventory was $35,800 7 Finished goods inventory balance on January 31 was $34,500. What is the cost of goods sold for January? A $208,257 B. $316 200 OC. $252.400 OD. $232,700
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