Calfee Corporation is a manufacturer that uses job-order costing.The company has supplied the following data for the just completed year: Results of operations: The ending balance in the Work in Process inventory account is:
A)$200,000
B)$162,000
C)$220,000
D)$181,000

Question

Calfee Corporation is a manufacturer that uses job-order costing.The company has supplied the following data for the just completed year:   Results of operations:  The ending balance in the Work in Process inventory account is:
A)$200,000 
B)$162,000 
C)$220,000 
D)$181,000

Quizplus · Accepted Answer

Predetermined overhead rate = Estimated total manufacturing overhead cost ÷ Estimated total amount of the allocation base
= $595,000 ÷ 35,000 direct labor-hours = $17.00 per direct labor-hour
Overhead applied = Predetermined overhead rate × Amount of the allocation base incurred
= $17.00 per direct labor-hour × 33,000 direct labor-hours = $561,000 11ea7998_5ef5_ac17_911b_112a888430a0_TB2627_00_TB2627_00 *19,000 + (420,000 + 641,000 + 561,000)? 1,441,000 = 19,000 + (1,622,000)? 1,441,000 = 200,000

Calfee Corporation Is a Manufacturer That Uses Job-Order Costing