Solution-Calculate the company cost of goods sold for the

Calculate the company cost of goods sold for the month

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Question - Tancredi Corporation has two manufacturing departments--Machining and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates:

	Machining	Customizing	Total
Estimated total machine-hours (MHs)	5,000	5,000	10,000
Estimated total fixed manufacturing overhead cost	$22,000	$11,500	$33,500
Estimated variable manufacturing overhead cost per MH	$1.80	$3.00

During the most recent month, the company started and completed two jobs--Job E and Job J. There were no beginning inventories. Data concerning those two jobs follow:

	Job E	Job J
Direct materials	$12,800	$7,000
Direct labor cost	$17,600	$7,700
Machining machine hours	3,400	1,600
Customizing machine-hours	2,000	3,000

Assume that the company uses a plant wide predetermined manufacturing overhead rate based on machine-hours. If both jobs are sold during the month, the company's cost of goods sold for the month would be closest to:

$110,808

$61,450

$102,600

$41,150

Reference no: EM132215664

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Calculate the company cost of goods sold for the month

Reference no: EM132215664

Reference no: EM132215664

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