Over- (under-) applied overhead
?
$6,500
Find the unknowns for each of the divisions.
Chapter 4 Problem 2
2. Computations using a job order system
General Corporation employs a job order cost system. On May 1 the
following balances were extracted from the general ledger;
Work in process
Finished goods
Cost of goods sold
$ 35,200
86,900
128,700
Work in Process consisted of two jobs, no. 101 ($20,400) and no. 103
($14,800). During May, direct materials requisitioned from the
storeroom amounted to $96,500, and direct labor incurred totaled
$114,500. These figures are subdivided as follows: