Under Lamprey Company's job-order costing system,manufacturing overhead is applied to Work in Process inventory using a predetermined overhead rate.During January,Lamprey's transactions included the following: Lamprey Company had no beginning or ending inventories.What was the cost of goods manufactured for January?

Question

Under Lamprey Company's job-order costing system,manufacturing overhead is applied to Work in Process inventory using a predetermined overhead rate.During January,Lamprey's transactions included the following:  Lamprey Company had no beginning or ending inventories.What was the cost of goods manufactured for January?

Quizplus · Accepted Answer

Cost of goods manufactured = Direct materials + Direct labor + Manufacturing overhead applied + Beginning work in process inventory- Ending work in process inventory
= $90,000 + $107,000 + $113,000 + $0 - $0
= $310,000

Under Lamprey Company's Job-Order Costing System,manufacturing Overhead Is Applied to Work