Rio Manufacturing Company uses a job-order costing system.At the beginning of February,Rio only had one job in process,Job #594.The direct costs assigned to this job at that time were $800 of materials and $650 of labor.Job #594 was finished during February incurring additional direct costs of $120 for materials and $370 for labor.Job #595 was started and finished during February.The direct costs assigned to this job were $310 for materials and $190 for labor.Job #596 was started during February but was not finished by the end of the month.The direct costs assigned to this job were $740 for materials and $300 for labor.Rio applies manufacturing overhead to its products at a rate of 200% of direct labor cost.What is Rio's cost of goods manufactured for February?
A) $2,440
B) $3,750
C) $4,860
D) $6,500
Correct Answer:
Verified
Q24: Overapplied overhead occurs when:
A)applied overhead exceeds actual
Q25: Juanita Corporation uses a job-order costing system
Q26: At the beginning of the year, manufacturing
Q28: Dowan Company uses a predetermined overhead rate
Q31: Harrell Company uses a predetermined overhead rate
Q31: Coggin Inc.uses a job-order costing system in
Q33: Paulson Company uses a predetermined overhead rate
Q34: Which of the following situations always results
Q58: Dagnon Corporation uses direct labor-hours in its
Q72: Kelson Company applies overhead to jobs on
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents