Reference no: EM132852237

Question - The following information pertains to the Dale Company:

(a) All sales were on account, with a markup equal to 28% of the sales price.

(b) The accounts payable account was used for materials purchases only.

(c) Factory overhead was applied at 150% of direct labor cost.

(d) Miscellaneous factory overhead cost totaled $60,000.

(e) Direct materials issued to production cost $80,000.

(f) Payment of accounts payable totaled $ 102,000.

(g) There was only one job in process at the end of the period, with charges to date of materials costing $10,000 and direct labor of $8,000.

(h) Collection of accounts receivable totaled $480,000.

(i) Cost of goods manufactured was $320,000.

(j) Payrolls totaling $172,000 were paid in cash.

Required -

1. How much is the Materials purchased?

2. How much is the Cost of goods sold?

3. How much is the Finished goods ending inventory?

4. Using the given information, how much is the Work in process ending inventory?

5. How much is the Direct labor costs?

6. How much is the Applied factory overhead?

7. How much is the Over-or underapplied factory overhead?