(Answered) Cost relationships normal costing systemcherry hill glass

Accounting

Cost Relationships; Normal Costing System

Cherry Hill Glass Company employs a normal costing system.

The following information pertains to the year just ended.

• Total manufacturing costs were $1,310,000.

• Cost of goods manufactured was $1,275,500.

• Applied manufacturing overhead was 30 percent of total manufacturing costs.

• Manufacturing overhead was applied to production at a rate of 80 percent of direct-labor cost.

• Work-in-process inventory on January 1 was 75 percent of work-in-process inventory on December 31.

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