Cost of material used $60,000 Direct labor costs. 58,000 FO. 33,000 Work in P, b
ID: 2420169 • Letter: C
Question
Cost of material used $60,000
Direct labor costs. 58,000
FO. 33,000
Work in P, beg. 29,000
Work in P, end. 18,000
Finished gds. beg. 32,000
Finished gds. end. 18,000
How do I calculate the cost of goods sold? What would it be?
4)
The Lala company allocates overhead based on a predetermined overhead rate of $9.00 per direct labor hour. Job J1102 required 8 tons of direct material at a cost of $600 per ton and took employees who earn 21$ per hour a total of 80 hours to complete. What is the total cost of job J1102
Explanation / Answer
cost of goods transferred out from WIP department=$29,000+$60,000+$58,000+$33,000-$18,000=$162,000
so cost of goods sold=$32,000+$162,000-$18,000=$176,000
4.
particulars amount in $ Material (8 tons*$600) 4,800 Labour cost ($9*80) 720 Total cost of job J1102 5,520