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Determine the inventory labor and overhead costs

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Question - Valuation of Manufacturing inventories

During the year ended 30 June 2014, Amila Ltd incurred the following costs of manufacture.

Direct labor 652800

Direct materials 890500

Factory overhead 1827840

The company charges factory overhead costs to work in process inventory and finished goods inventory, using an overhead application rate based on direct labor costs.

Required -

A. Determine the company's application rate?

B. If the company's ending finished goods inventory of $128420 included $18600 of direct materials costs, determine the inventory's labor and overhead costs.

Reference no: EM132658744

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