Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 3 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 21 Sep 2017 My Price 5.00

job-costing system

Normal costing, overhead allocation, working backward. (M. Rajan, adapted) Gibson Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost category (manufacturing overhead). The following information is obtained for 2009:
Total manufacturing costs, $8,000,000
Manufacturing overhead allocated, $3,600,000 (allocated at a rate of 200% of direct manufacturing labor costs)
Work-in-process inventory on January 1, 2009, $320,000
Cost of finished goods manufactured, $7,920,000
1. Use information in the first two bullet points to calculate (a) direct manufacturing labor costs in 2009 and (b) cost of direct materials used in 2009.
2. Calculate the ending work-in-process inventory on December 31, 2009.

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Sep 2017 09:09 PM My Price 5.00

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