The Milo Company's records for May contain the following information: Actual direct labour hours 9,000...
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The Milo Company's records for May contain the following information: Actual direct labour hours 9,000 hours Actual direct labour cost $47,000 Direct material purchased $16,000 Direct material used $14,000 Cost of goods sold $100,000 Overapplied overhead $5,000 Ending inventories: Raw materials $30,000 Work in process 50,000 Finished goods 70,000
The company uses a predetermined overhead rate of $5.00 per direct labour hour to apply manufacturing overhead to jobs.
48) What was the actual overhead cost incurred during the month? 48) A) $50,000. B) $45,000. C) $40,000. D) $55,000. 49) What was the total cost added to Work in Process during May? 49) A) $106,000. B) $101,000. C) $61,000. D) $111,000. 50) Assuming no beginning inventory for Work in Process, the cost of goods manufactured is: 50) A) $11,000. B) $51,000. C) $156,000. D) $56,000.
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