Sawyer Company had the following information for the year: Direct materials used $ 194,100 Direct labor...
Sawyer Company had the following information for the
year:
| Direct materials used | $ | 194,100 |
| Direct labor incurred (7,400 hours) | $ | 246,500 |
| Actual manufacturing overhead incurred | $ | 315,000 |
Sawyer Company used a predetermined overhead rate using estimated
overhead of $352,600 and 8,200 estimated direct labor hours. Assume
the only inventory balance is an ending Finished Goods Inventory
balance of $9,800. What was adjusted cost of goods sold?
-
$749,000
-
$745,800
-
$755,600
-
$758,800
Homework Answers
Answer) $745800
Explanations:
1)Predetermined Overhead rate = 352600 / 8200 = $43 per DL
2) Overhead applied to Production = $43 x 7400 = $318200
3) Overapplied OH = $318200 - $315000 = $3200
4) Cost of good sold = Direct materials used + Direct labor incurred + Manufacturing overhead applied - Ending FG Inventory
= 194100 + 246500 + 318200 - 9800
= 749000
5) Adjusted Cost of goods sold = 749000 - Overapplied OH
= 749000 - 3200
= 745800
Add Answer to:
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