The work in process inventory account for clinton company, Ask an Expert

Accounting

The Work in Process Inventory account for Clinton Company for the month ended September 30 appears below.

Work in Process Inventory
Beginning Balance	0	Completed	135,800
Direct Materials	42,000
Direct Labor	70,000
Overhead	91,000

Overhead is applied based on direct labor dollars. Direct material costs for the one job remaining in work in process on September 30 was $12,300.

a. What was the overhead rate used to apply overhead to jobs?

b. Determine the amount of direct labor charged to the one remaining job. Round you answers to nearest dollars.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9800450

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