Manufacturing overhead to cost of goods sold

Reference no: EM13151884

Madtack Company's beginning and ending inventories for the month of November were as follows:

November 1 November 30
Direct Materials $67,500 $60,900
Work in Process $145,000 $167,000
Finished Goods $85,900 $76,800

Production data for month follow:

Direct labor cost incurred $214,000
Actual manufacturing overhead cost incurred $130,000
Direct materials purchases $165,100

Madtack applies manufacturing overhead cost to jobs at the rate of 55% of direct labor cost incurred. The company does not close underapplied or overapplied manufacturing overhead to Cost of Goods Sold until the end of the year.

Reference no: EM13151884

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