Problemduring 2013 durham manufacturing expected job no 51, Ask an Expert

Accounting

Problem:

During 2013, Durham Manufacturing expected Job No. 51 to cost $300,000 of overhead, $500,000 of materials, and $200,000 in labor. Durham applied overhead based on direct labor cost. Actual production required an overhead cost of $290,000, $550,000 in materials used, and $220,000 in labor. All of the goods were completed.

Required:

Question: What amount was transferred to Finished Goods?

a. $1,070,000

b. $1,000,000

c. $1,100,000

d. $1,060,000

Note: Please show the work not just the answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91163914

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