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ABC Industries allocates manufacturing overhead at a predetermined rate of 160% of direct labor cost....

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Accounting

ABC Industries allocates manufacturing overhead at a predetermined rate of 160% of direct labor cost. Any overallocated or underallocated overhead is closed to the cost of goods sold at the end of the month. Below is information on Job #205 that was in process at the end of the month of October:

Direct materials: $4,000

Direct labor: $3,000

Allocated manufacturing overhead: $4,800

Jobs #206, #207, and #208 were started in November. Direct materials that were used in November were $26,000 and direct labor costs were $21,000. For the month of November, actual manufacturing overhead was $32,000.

The only job still in process on the last day of November was job #104 with the following costs: $3,000 for direct materials and $1,500 for direct labor. Calculate the cost of goods manufactured for November.

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