Author Question: Addison Company uses a job costing system. Addison Company's schedule of cost of goods manufactured ... (Read 190 times)

CharlieWard · **on:** Jan 4, 2020

Addison Company uses a job costing system. Addison Company's schedule of cost of goods manufactured showed the following amounts for the month ended August 31.

Cost of goods manufactured	$101,000
Cost of direct materials used	38,000
Cost of direct labour ($25 per hour)	80,000
Work in process inventory, August 1	12,000

Manufacturing overhead cost is allocated at the rate of $10 per direct labour hour. Actual manufacturing overhead costs for August amount to $42,000.

What is the amount of work in process inventory (after any adjustment for overallocated or underallocated manufacturing overhead) on August 31 at Addison Company?
◦ $61,000
◦ $113,000
◦ $160,000
◦ $30,000

Hdosisshsbshs · **Reply #1 on:** Jan 4, 2020

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