Under Pick Co.\'s job order costing system, manufacturing overhead is applied to

Question

Under Pick Co.'s job order costing system, manufacturing overhead is applied to Work-in-Process using a predetermined annual overhead rate. During January, Pick's transactions included the following:

Pick had neither beginning nor ending inventory in Work-in-Process Inventory. What was the cost of jobs completed in January?

Under Pick Co.'s job order costing system, manufacturing overhead is applied to Work-in-Process using a predetermined annual overhead rate. During January, Pick's transactions included the following:

Explanation / Answer

Pick's Cost of Jobs Completed in January (All amounts in $) Direct Materials issued to Production 92000 Direct Labor Costs 109500 Manufacturing Overhead applied 116000 Cost of Jobs completed in January 317500

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