Company X applies overhead to products using a pre-determined rate of $6 per direct labor...
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Accounting
Company X applies overhead to products using a pre-determined rate of $6 per direct labor hour. During 2021, X had following cost:
Direct material purchased: 180,000
Direct labour: 195,000
Factory utilities: 37,000
Depriciation, office equip: 29,000
Advertising: 42,000
indirect labor: 16,000
Shipping goods to customers: 21,000
Property taxes, 33000
X inventory account for 2021 were:
Jan 1. Dec 31
Direct materials 69,000. 31,000
Work in progress: 42,000. 55,000
Finished goods: 28,000. 64,000
Direct labor workers are paid $15 per hour.
Calculate the prime cost for 2021
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