Author Question: Cooper Company uses a job costing system. The company's schedule of cost of goods manufactured ... (Read 145 times)

nramada · **on:** Jan 4, 2020

Cooper Company uses a job costing system. The company's schedule of cost of goods manufactured showed the following amounts for September.

Cost of goods manufactured	$52,000
Cost of direct materials used	$27,000
Cost of direct labour ($18 per hour)	$18,000
Work in process inventory, September 1	$2,000

Manufacturing overhead cost is allocated at the rate of $12 per direct labour hour. Actual manufacturing overhead costs for September amount to $22,000.

What is the amount of work in process inventory (after any adjustment for overallocated or underallocated manufacturing overhead) on September 30 at Cooper Company?
◦ $67,000
◦ $20,000
◦ $54,000
◦ $17,000

pikon · **Reply #1 on:** Jan 4, 2020

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