Minstrel manufacturing uses a job order costing system. during one month, minstrel purchased $225,600 of raw materials on credit; issued materials to production of $218,000 of which $36,900 were indirect. minstrel incurred a factory payroll of $163,800, of which $46,900 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 $17,800 and $31,600 respectively. compute the cost of product transferred to finished goods inventory:
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Ответ:
The cost of product transferred to Finished Goods Inventory is $459,550
Explanation:
The computation of the cost of product transferred to Finished Goods Inventory is shown below:
= Beginning Work in Process Inventory + issued of raw materials - indirect material + factory payroll - indirect labor + overhead cost - ending Work in Process Inventory
= $17,800 + $218,000 - $36,900 + $163,800 - $46,900 + $175,350 - $31,600
= $459,550
The overhead cost is computed below:
= (Factory payroll - indirect labor) × percentage of direct labor
= ($163,800 - $46,900) × 150%
= $175,350
Ответ: