(Cost accumulation) Barfield Mfg. Co. applies overhead to jobs at a rate of 140 percent of direct labor cost. The following account information is available.
|
Direct Material Inventory |
Work in Process Inventory |
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|
Beg. Balance |
24,600 |
? |
Beg. balance |
56,000 |
? |
||
|
Purchases |
? |
Direct |
|
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|
|
material |
? |
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|
|
Direct labor |
395,000 |
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|
|
Overhead |
? |
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|
4,100 |
27,640 |
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|
Finished Goods Inventory |
Cost of Goods Sold |
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|
Beg. balance |
90,000 |
|
1,890,000 |
|
? |
||
|
Goods |
|
|
|
|
|
||
|
completed |
? |
|
|
|
|
||
|
57,000 |
|
|
|
|
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Calculate the following items that are missing from Barfield’s account information:
a. Cost of goods sold
b. Cost of goods manufactured
c. Amount of overhead applied to production
d. Cost of direct material used
e. Cost of direct material purchased