The following data are available for ABC Corp: Budgeted Overhead is 100,000; Budgeted Direct labor hours is 25,000 hours; Direct labor rate is 10 per hour; actual direct labor hours is 15,000 hours; ;raw materials used is 120,000; indirect labor of 10,000, indirect materials used of 5,000;other overhead cost of 40,000; WIP increased by 8,000 and Finished Goods decreased by 2,000. What is the cost of goods sold at normal cost? Assume that under or overapplied overhead is immaterial.
The following data are available for ABC Corp: Budgeted Overhead is 100,000; Budgeted Direct labor hours is 25,000 hours; Direct labor rate is 10 per hour; actual direct labor hours is 15,000 hours; ;raw materials used is 120,000; indirect labor of 10,000, indirect materials used of 5,000;other overhead cost of 40,000; WIP increased by 8,000 and Finished Goods decreased by 2,000. What is the cost of goods sold at normal cost? Assume that under or overapplied overhead is immaterial.
Chapter6: Activity-based, Variable, And Absorption Costing
Section: Chapter Questions
Problem 1EB: Green Bay Cheese Company estimates its overhead to be $375,000. It expects to have 125,000 direct...
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The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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The following data are available for ABC Corp: Budgeted Overhead is 100,000; Budgeted Direct labor hours is 25,000 hours; Direct labor rate is 10 per hour; actual direct labor hours is 15,000 hours; ;raw materials used is 120,000; indirect labor of 10,000, indirect materials used of 5,000;other overhead cost of 40,000; WIP increased by 8,000 and Finished Goods decreased by 2,000. What is the cost of goods sold at normal cost? Assume that under or overapplied overhead is immaterial.
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