Cost of goods manufactured balance in the raw materials

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Reference no: EM13356017

Cost of goods manufactured, balance in the raw materials inventory account.

Dasilvia Company had only 1 job in process on May 1. The job had been charged with $1,400 of direct materials, $6,192 of direct material, and $5712 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $11.90 per direct labor hour. During May the following activity was recorded

Raw materials (all direct materials)

Beginning balance	$8,500
Purchase during the month	$48,000
Used in production	$51,800

Labor:

Direct labor-hours worked during the month	1,900
Direct labor cost incurred	$24,510
Actual manufacturing overhead costs incurred	$21,000

Inventories:

Raw material, May 30	?
Work in process, May 30	19,536

1) The cost of goods manufactured for May was:

a.$98.920

b.$92,688

c.$120,800

d.$97,310

2) The balance in the raw materials inventory account on May 30 was:

a.$4,700

b.$43,300

c.$3,800

d.9,500

Reference no: EM13356017

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