Compute cost of product transfer to finished goods inventory

Assignment Help Accounting Basics

Reference no: EM131914762

Problem

Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, paid in cash, of which $40,000 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 $15,500 and $27,000 respectively. Compute the cost of product transferred to Finished Goods Inventory:

Reference no: EM131914762

Questions Cloud

How would you have ruled on the case : Lancaster, California, located about 45 miles from Los Angeles, was trying to build its local economy but was tripped up by the U.S. Constitution.

Identify culturally dependent data : Identify at least 3 culturally dependent data (in a program (GUI or non-GUI). Discuss steps that should be taken to internationalize these 3 data that have been

Draw the ERD Diagram using SDLC for Vic Roads : Prepare a complete report and Draw the ERD Diagram using SDLC for selected Company. The selected company is Vic Roads

Discuss california standards by considering new federal rule : California rules, for example, prohibit the sale of eggs laid by hens confined to very small cages. What issues would you cite if Congress were to respond.

Compute cost of product transfer to finished goods inventory : Minstrel Manufacturing uses a job order costing system. Compute the cost of product transferred to Finished Goods Inventory:

What is the role of the individual in helping to solve : In your opinion, what is the role of the individual in helping to solve some of the problems mentioned in the paragraph above?

Do the courts have too much power in our lives : As noted, the Constitution does not expressly authorize judicial review. Should we, therefore, assume that the framers of the Constitution did not intend.

Calculate gross profit income before taxes and net income : During the year, cost of goods sold was $50,000; income from operations was $48,000. Calculate net sales, gross profit, income before taxes, and net income.

Java application that allows a user to enter numbers : Java application that allows a user to enter numbers into an array and then process them - Find and display the min value and the index of this min

User Account

All Pages