Solution-What was the amount of direct materials charged to

What was the amount of direct materials charged to job

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Problem 1: Howell Corporation has a job order cost system. The following debits (credits) appeared in Work in Process for the month of July: July 1, balance is 12,000 ; July 31, direct materials is 40,000 ; July 31, direct labor is 30,000 ; July 31, factory overhead 27,000 and July 31, amount transferred to finished good is (100,000). Cost of goods sold is 90,000 at normal cost with gross profit rate of 20% based on cost. Howell applies overhead to production at a predetermined rate based on the direct labor cost. Job 1040, the only job still in process at the end of July, has been charged with factory overhead of $2,250. What was the amount of direct materials charged to Job 1040?

Reference no: EM132738868

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What was the amount of direct materials charged to job

Reference no: EM132738868

Reference no: EM132738868

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