Blake Company's beginning and ending inventories for the month of June were as follows: June 1 June 30 Direct Materials $65,000 $59,000 Work in Process $137,000 $166,000 Finished Goods $80,000 $72,000 Production data for the month follow: Direct labor cost incurred Direct labor-hours $195,000 30,000 Actual manufacturing overhead cost incurred $147,000 Direct materials purchases $132,000 Blake applies manufacturing overhead costs to jobs based on direct labor hours, and the predetermined rate is $5.40 per direct labor hour. The company does not close underapplied or overapplied manufacturing overhead to the Cost of Goods Sold until the end of the year. What is the amount of cost of goods manufactured?

Blake Company's beginning and ending inventories for the month of June were as follows: June 1 June 30 Direct Materials $65,000 $59,000 Work in Process $137,000 $166,000 Finished Goods $80,000 $72,000 Production data for the month follow: Direct labor cost incurred Direct labor-hours $195,000 30,000 Actual manufacturing overhead cost incurred $147,000 Direct materials purchases $132,000 Blake applies manufacturing overhead costs to jobs based on direct labor hours, and the predetermined rate is $5.40 per direct labor hour. The company does not close underapplied or overapplied manufacturing overhead to the Cost of Goods Sold until the end of the year. What is the amount of cost of goods manufactured?

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 6E: The records of Burris Inc. reflect the following data: Work in process, beginning of month2,000...

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