Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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The Milo Company's records for May contained the following information.
Actual direct labor-hours 9,000 hours
Actual direct labor cost
$ 47,000
Direct material purchased 16,000
Direct material used
14,000
Cost of goods sold
100,000
Underapplied overhead
5,000
Ending inventories:
Raw materials
Work-in-process
Finished goods
$8,500
10,000
60,000
The company uses a predetermined overhead rate of $5.00 per direct labor hour to
apply manufacturing overhead to jobs. What is the actual overhead cost incurred during
the month?
a. $40,000
b. $45,000
c. $50,000
d. $55,000
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Transcribed Image Text:The Milo Company's records for May contained the following information. Actual direct labor-hours 9,000 hours Actual direct labor cost $ 47,000 Direct material purchased 16,000 Direct material used 14,000 Cost of goods sold 100,000 Underapplied overhead 5,000 Ending inventories: Raw materials Work-in-process Finished goods $8,500 10,000 60,000 The company uses a predetermined overhead rate of $5.00 per direct labor hour to apply manufacturing overhead to jobs. What is the actual overhead cost incurred during the month? a. $40,000 b. $45,000 c. $50,000 d. $55,000
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