how to find direct material sosts 247161

Red Wing Company applies factory overhead based on direct labor costs. The company incurred the following costs during 2011: direct materials costs, $638,500; direct labor costs, $4,000,000; and factory overhead costs applied, $1,840,000.

1.

Determine the company’s predetermined overhead rate for year 2011.(Omit the “%” sign in your response.)

Predetermined overhead rate %

2.

In the Goods in Process Inventory account for year 2011, the ending balance is $57,000 which includes $22,000 in direct labor cost, determine the direct material cost.(Omit the “$” sign in your response.)

Direct materials costs $

3.

In the Finished Goods Inventory account for year 2011, the ending balance is $337,460 which includes $137,445 in direct material costs, determine the direct labor costs and overhead costs.(Round your intermediate calculations and final answers to the nearest dollar amount. Omit the “$” sign in your response.)

Direct labor cost $
Factory overhead costs $

Related Articles

armstrong helmet company 239138

Armstrong Helmet Company manufactures a unique model of bicycle helmet Question Case project Learning Objectives: Prepare practical applications of course concepts Develop analytical and critical thinking Develop decision-making capabilities Enhance professional...

read more
GET A FREE QUOTE





  
Open chat
Need help? We are Online 24/7
Hello 👋
Can we help you?