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Mallet Company had only Job 844 in process on March 1 of the current year....

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Accounting

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Mallet Company had only Job 844 in process on March 1 of the current year. The job had been charged with $2,000 of direct material cost, $2,500 of direct labour cost, and $1,750 of manufacturing overhead cost. The company assigns overhead cost to jobs at a predetermined rate of 70% of direct labour cost. Any underapplied or overapplied overhead cost is closed to Cost of Goods Sold at the end of the month. During March the following activity and amounts were recorded by the company $29,500 $30,500 Raw materials (all direct materials) Purchased during the month Used in production Labour Direct labour hours worked during the month Direct labour cost incurred Indirect labour costs incurred Manufacturing overhead costs incurred (total) Inventories Raw materials (all direct) March 31 Work in process, March 31 2.500 $26.500 $5,500 $18.500 $7500 $14.500 Work in process inventory contained $5.500 of direct labour cost. The amount of direct materials cost in the March 31 work in process inventory account was

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