The following information applies to the questions displayed below] sweeten Comp

Question

The following information applies to the questions displayed below] sweeten Company had no jobs in progress at the beginning of March and no beginning Inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined ed on direct labor-hours. The following additional Information is avallable for the company overhead rate bas a whole and for Jobs P and Q (all data and questions relate to the month of March) Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per direct labor-hour Estimated total direct labor-hours to be worked Total actual manufacturing overhead costs incurred s 14.000 S 140 3.500 $ 19.000 Direct materials Direct labor cost Actual direct labor-hours worked Job P Job Q $ 15.000 $ 9,500 s 52000 s 15.000 750 2.600

Explanation / Answer

Workings

Schedule of Cost of goods sold Finished goods at the beginning 0 Cost of goods amanufactured 70640 Cost of goods available for sales 70640 Less Finished goods at the end 0 Unadjusted cost of goods sold 70640

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