What is the amount of cost of goods manufactured, Cost Accounting

Assignment Help:

Wayne Company's beginning and ending inventories for the month of June were as follows: June 1 June 30
Work in progress $145,000 171,000
Finished Goods 85,000 78,000

Production data for the month follow:
Direct labor cost incurred $200,000
Direct labor hours 25,000
Actual manufacturing overhead cost incurred 132,000
Direct Materials 170,000

Wayne applies manufacturing overhead cost to jobs based on direct labor-hours, and the predetermined rate is $5.75 per direct labor-hour. The company does not close under applied or over applied manufacturing overhead to Cost of Goods Sold until the end of the year. What is the amount of cost of goods manufactured?

 


Related Discussions:- What is the amount of cost of goods manufactured

Gains and losses on disposal, When assets are replaced during the anticipat...

When assets are replaced during the anticipated life of the project, or at the end of the anticipated life of the project, they are sold at their pre-determined scrap values. Incom

Absorbtion of overheads, interaction with an expert/cost accountant to kno...

interaction with an expert/cost accountant to know the overhead absorbtion policies and procedure followed

Evaluate the expected earning, During his career in the energy industry, T-...

During his career in the energy industry, T-Bone McAdams has accumulated $5,000,000 in "surplus savings" that he is planning to donate to his college alma mater, Oklahoma A&M, in

Cost of goods manufactured statement., These balances for a company x Ra...

These balances for a company x Raw materials $40,000 Work in process $30,000 Finished goods $60,000 for the current year the company estimated that it would work 150.000 mach

Qualitative characteristic of understandability means, The enhancing qualit...

The enhancing qualitative characteristic of understandability means that information should be understood by a those who are experts int eh interpretation of financial informat

Determine the direct materials cost variance, Question P A RT A ...

Question P A RT A Borrico ltd manufacture a single product and they had currently introduced a system of budgeting and variance analysis. The subsequent information i

Product costing and pricing, Critically evaluate the product costing and pr...

Critically evaluate the product costing and pricing practices actually in use in modern manufacturing organisations inany of the three countries in the Asia Pacific region, prefera

Factory overhead, Why do we separate factory overhead from materials and la...

Why do we separate factory overhead from materials and labor?

Incremental costs as relevant costs, Incremental Costs as Relevant Costs ...

Incremental Costs as Relevant Costs An incremental cost is specifically incurred with the following a course of action and ignorable if such action is not implemented. It cont

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd