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Question: Sunstead Company uses a job-order costing system and applies manufacturing overhead to Work in Process inventory using a predetermined overhead rate. The company had no beginning or ending inventories in the current month. During the month, the company's transactions included the following:

Manufacturing overhead cost incurred $1,000,000

Manufacturing overhead cost applied 904,000

Direct labor cost incurred 856,000

Direct materials issued to production 720,000

Indirect materials issued to production 64,000

Part (a) What was the cost of goods manufactured?

Part (b) What was the amount of cost of goods sold?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92712996

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