Reference no: EM132955059
Question - Randall Company manufactures products to customer specifications. A job costing system is used to accumulate production costs. Factory overhead cost was applied at 120% of direct labor cost. Selected data concerning the past year's operation of the company are presented below.
January 1 December 31
Direct materials $82,000 $45,000
Work in process 71,000 47,000
Finished goods 120,000 105,000
Other information Direct materials purchases $329,000
Cost of goods available for sale 960,000
Actual factory overhead costs 265,000
Required - Determine the cost of goods manufactured during the year?
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