Production data for the month:
Direct labor cost incurred: $200,000
Actual manufacturing overhead cost $132,000 Direct materials purchased $165,000.
The company applies manufacturing overhead cost to jobs at the rate of 70% of direct labor cost incurred. The company does not close under or over applied manufacturing overhead to cost of goods sold until the end of the yer.
What is the Company's total manufacturing cost the cost of goods manufactured and cost of goods sold for the month of November?
The solution explains the calculation of total manufacturing cost and cost of goods sold