Applies overhead on the basis of direct labor cost

Assignment Help Financial Accounting

Reference no: EM13795284

Charleston Company uses a job-order costing system. During April, the following costs appeared in the Work in Process Inventory account:

Beginning balance $ 24,000

Direct material used 70,000

Direct labor incurred 60,000

Applied overhead 48,000

Cost of goods manufactured 185,000

Charleston Company applies overhead on the basis of direct labor cost. There was only one job left in Work in Process at the end of April which contained $5,600 of overhead. What amount of direct material was included in this job?

a. $6,920

b. $8,000

c. $4,400

d. $4,480

Reference no: EM13795284

Questions Cloud

General partnership by contributing investment land : Gary acquired a 30% interest in the Woo General Partnership by contributing investment land with an adjusted basis of $30,000 and a fair market value of $100,000. Gary originally acquired the land on 2/2/1991. The land was subject to a $40,000 mortga..

What is the capital balance of peter : Peter, Roberts, and Dana have the following capital balances; $80,000, $100,000 and $60,000, respectively. The partners share profits and losses 20%, 40%, and 40% respectively. Roberts retires and is paid $160,000 based on an independent appraisal of..

Selling and administrative expenses : Sloane Products has no Work in Process or Finished Goods inventories at the close of business on December 31 of the current year. The balances of Sloane Products' accounts as of December 31 are as follows:

What is the prime cost of job : Robertson Company uses a job-order costing system and the following information is available from its records. The company has three jobs in process: #8, #12, and #15. Refer to Robertson Company. What is the prime cost of Job #8?

Applies overhead on the basis of direct labor cost : Charleston Company uses a job-order costing system. During April, the following costs appeared in the Work in Process Inventory account: Charleston Company applies overhead on the basis of direct labor cost. There was only one job left in Work in Pro..

Overhead applied based on direct labor cost : Moore Company uses a job-order costing system and the following information is available from its records. The company has three jobs in process: #6, #9, and #13. Refer to Moore Company. If Job #13 is completed and transferred, what is the balance in..

What is balance in work in process inventory at that time : Romano Company applies overhead for Job #323 at 140 percent of direct labor cost and at 150 percent of direct labor cost for Jobs #325 and #401. The total cost of Jobs #323 and #325 is identical. Refer to Romano Company Assume that Jobs #323 and #401..

Integrated accounting and financial reporting model : Explain the components of the Governmental Accounting Standards Board’s (GASB) integrated accounting and financial reporting model, including: Government-wide financial statements. Fund financial statements

Depreciated on a straight-line basis : B2B Co. is considering the purchase of equipment that would allow the company to add a new product to its line. The equipment is expected to cost $376,000 with a 6-year life and no salvage value. It will be depreciated on a straight-line basis. B2B C..

User Account

All Pages