Quiz 19 - Partially completed T-accounts and additional...

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Partially completed T-accounts and additional information for Cardinal’s Inc., for the month of November follow. (T ACCOUNTS) Materials Inventory Work-In Process Inventory BB (11/1) 30,000 BB (11/1) 60,000 120,000 Labor 90,000 96,000 Applied 72,000 Finished Goods Inventory Cost of Good Sold BB (11/1) 80,000 180,000 120,000 Manufacturing Overhead Control Applied Manufacturing Overhead 78,000 WIP 72,000 Additional information for November follows: Labor wage rate was $30 per hour. Manufacturing overhead is applied at $24 per direct labor-hour During the month, sales revenue was $270,000, and selling and administrative costs were $48,000. This company has no indirect materials or supplies. Required What cost amount of direct materials was issued to production during November? Cost of raw materials issued = (30000+120000-96000) = 54000 How much manufacturing overhead was applied to products during November? Labor rate = $30 per hour
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Quiz 19 - Partially completed T-accounts and additional...

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