Question 760708: Hamilton Company uses job-order costing. Manufacturing overhead is applied using a predetermined rate of 150% of direct labor cost. Any underapplied or overapplied manufacturing overhead is closed to Cost of Goods Sold at the end of each month. Additional information is available as follows:
° Job 101 was the only job in process at January 31. The job cost sheet for this job contained the following costs at the beginning of the month:
° Jobs 102, 103, and 104 were started during February.
° Direct materials requisitions for February totaled $26,000.
° Direct labor cost of $20,000 was incurred for February.
° Actual manufacturing overhead was $32,000 for February.
° The only job still in process at February 28 was Job 104, with costs of $2,800 for direct materials and $1,800 for direct labor.
The cost of goods manufactured for February was: (Points : 2)
$77,700
$78,000
$79,700
$85,000
Answer by TeeTeeMonique(4)   (Show Source):
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