Under Pick Co.’s job order costing system manufacturing overhead is applied to work in process using a predetermined annual overhead rate. During January 2005, Pick’s transactions included the following:
|
Direct materials issued to production |
$ 90,000 |
|
Indirect materials issued to production |
8,000 |
|
Manufacturing overhead incurred |
125,000 |
|
Manufacturing overhead applied |
113,000 |
|
Direct labor costs |
107,000 |
Pick had neither beginning nor ending work in process inventory. What was the cost of jobs completed in January 2005?
- $302,000
- $310,000
- $322,000
- $330,000