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XYZ Company began operations during 2011 and employs a job-order costing system that applies overhead to jobs using direct labor hours as the activity level. For 2011, XYZ Company had total estimated overhead of $229,500 and total estimated direct labor hours of 25,500. Listed below is a summary of events and transactions that occurred during 2011: a. XYZ Company purchased 80,000 pounds of direct materials at $4.20 per pound. b. XYZ began work on three jobs. Direct materials used for each job were: Job A-1 .................. 17,000 pounds Job A-2 .................. 25,000 pounds Job A-3 .................. 30,000 pounds c. Direct labor hours used for each job were: Job A-1 .................. 9,800 hours Job A-2 .................. 7,800 hours Job A-3 .................. 8,400 hours Direct labor workers are paid $12 per hour. d. The following additional costs were incurred: Manufacturing Facility Administrative Facility Rent .................. $ 42,000 $ 15,000 Depreciation ....... 55,000 12,000 Utilities ............. 51,000 10,000 Salaries .............. 92,0001 65,000 Totals ............... $ 240,000 $ 102,000 1 This $92,000 is all indirect labor. See letter (c) for direct labor for the manufacturing facility. e. Jobs A-1 and A-2 were completed during 2011. Job A-2 was sold to the customer for $420,000. Calculate XYZ Company's cost of goods manufactured for 2011. Do not use d
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