Accounting for overhead
Teak Outdoor Furniture manufactures wood patio furniture. The company reports the following costs for June 2012:
|
Wood |
$ 250,000 |
|
Nails, glue, and stain |
26,000 |
|
Depreciation on saws |
5,500 |
|
Indirect manufacturing labor |
38,000 |
|
Depreciation on delivery truck |
2,300 |
|
Assembly-line workers’ wages |
57,000 |
Requirement
1. What is the balance in the Manufacturing overhead account before overhead is applied to jobs?