Answered

Find expert answers and community support for all your questions on IDNLearn.com. Ask anything and receive immediate, well-informed answers from our dedicated community of experts.

During 2019, Coronado Industries expected Job No. 26 to cost $300000 of overhead, $500000 of materials, and $200000 in labor. Coronado applied overhead based on direct labor cost. Actual production required an overhead cost of $370000, $610000 in materials used, and $260000 in labor. All of the goods were completed. What amount was transferred to Finished Goods?

Sagot :

Ayokenny2001idn

Answer:

See below

Explanation:

Given the above information, first we will compute the predetermined overhead rate

Predetermined overhead rate

= Estimated manufacturing overhead / Estimated labor

= $300,000/$200,000

= 1.5

The next step is to apply the

= [(1.5 × $260,000) + $260,000 + $610,000]

= $390,000 + $260,000 + $610,000

= $1,260,000

We appreciate your presence here. Keep sharing knowledge and helping others find the answers they need. This community is the perfect place to learn together. Find clear answers at IDNLearn.com. Thanks for stopping by, and come back for more reliable solutions.