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Discuss actual manufacturing overhead cost during the month

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Reference no: EM131769071

Meyers Corporation had the following inventory balances at the beginning and end of November:

  November 1 November 30
Raw Materials $ 80,000   $ 28,000  
Finished Goods $ 220,000   $ 150,000  
Work in Process $ 46,000   $ 50,000  

During November, $170,000 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $9 per direct labor-hour, and it paid its direct labor workers $14 per hour. A total of 1,000 hours of direct labor time had been expended on the jobs in the beginning Work in Process inventory account. The ending Work in Process inventory account contained $20,000 of direct materials cost. The Corporation incurred $120,000 of actual manufacturing overhead cost during the month and applied $110,000 in manufacturing overhead cost.

Reference no: EM131769071

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