My first Magazine ACC 206 All Assignments | Page 30

General applies overhead daily at the rate of 150% of direct labor cost
as labor summaries are posted to job orders. The firm's fiscal year ends
on May 31.
Instructions:
a. Compute the total overhead applied to production during May.
b. Compute the cost of the ending work in process inventory.
c. Compute the cost of jobs completed during May.
d. Compute the cost of goods sold for the year ended May 31.
Chapter 5 Exercise 1
1. High-low method
The following cost data pertain to 20X6 operations of Heritage
Products:
Quarter 1