The company applies overhead to products at a rate of 150 pe

The company applies overhead to products at a rate of 150 percent of direct labor cost Required: 1. Compute the cost of Jobs 33, 34, and 35 at the end of the month Total Manufacturing Cost Job 33S Job 34 $ Job 35S 27.250 31,500 12,325 2. Calculate the balance in the Work in Process inventory, Finished Goods inventory and Cost of Goods 2. Work in Process Invenmory Finished Goods Inventory Cost of Goods Sold eBook & Resources HintsReferences Hint 49 3 4 2

Solution

1 Job 33 Job 34 Job 35 Beg. Work in progress 7500 6000 Material 3500 6000 4200 Labor 6500 7800 3250 Manufacturing overheads (150% of labor) 9750 11700 4875 Total manufacturing cost 27250 31500 12325 2 Work in progress inventory 12325 Job 35 Finished goods inventory 31500 Job 34 Cost of goods sold 27250 Job 33