Answered

At Westonci.ca, we connect you with the best answers from a community of experienced and knowledgeable individuals. Join our Q&A platform to get precise answers from experts in diverse fields and enhance your understanding. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $226,800 of raw materials on credit; issued materials to production of $219,000 of which $37,200 were indirect. Minstrel incurred a factory payroll of $164,400, of which $47,200 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $17,900 and $31,800 respectively. Compute the cost of jobs transferred to Finished Goods Inventory.

Sagot :

Answer:

$460,900

Explanation:

The computation of the cost of jobs transferred to Finished Goods Inventory is shown below:

= beginning wip + Direct material + direct labor + manufacturing overhead - closing wip

= $17,900 + ($219,000 - $37,200) + ($164,400 - $47,200) + 150% of $117,200 - $31,800

= $17,900 + $181,800  + $117,200 + $175,800 - $31,800

= $460,900

Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.