Reference no: EM133166281
Question - Job Order Cost Flow - Safe Tee, Inc. uses a job order system. The following transactions are for August 2019.
Direct material purchases on account totaled 133,200.
Direct labor cost for the period totaled 111,880 for 2,797 direct labor hours.
Factory overhead costs were applied to jobs at a rate of 60 per direct labor hour.
Actual overhead costs for the period totaled 161,360.
Goods costing (at normal) 360,670 were sold for 512,150.
Underapplied or overapplied overhead is treated as an adjustment to cost of goods sold at month-end.
Direct materials inventory was 10,500 and 24,400 on August 1 and August 31, respectively.
Work-in-process inventory was 33,960 and 17,020 on August 1 and August 31, respectively.
There was no finished goods inventory on August 1, 2019.
Required - Show solutions to the following:
1. Find the ending balance of finished goods inventory of Safe Tee, Inc amounted?
2. Find the cost of Direct Materials used in production amounted?
3. Find the Total Manufacturing Costs amounted?
4. Find the Total Cost of Goods Manufactured amounted?
5. Find the ADJUSTED Cost of Goods Sold amounted?
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