Paige printing applies overhead to production at a, Ask an Expert

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Paige Printing uses a job-order costing system. The following debits (credits) appeared in the Work-in-Process account for May:

May 1 Balance $5,000 (Debit)
Entire month Direct material 30,000 (Debit)
Entire month Direct labor 20,000 (Debit)
Entire month Factory over. 16,000 (Debit)
Entire month To finished goods $60,000 (Credit)

Paige Printing applies overhead to production at a predetermined rate of 80 percent based on direct labor cost. Job 75, the only job still in process at the end of May, has been charged with direct labor of $2,500.

Required:

What was the cost of direct material charged to job 75?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M973973

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