Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. cowabungie incorporated builds custom-made bungie

Cowabungie Incorporated builds custom-made bungie cords for dairy cattle whose production is dropping due to...

70.2K

Verified Solution

Question

Accounting

Cowabungie Incorporated builds custom-made bungie cords for dairy cattle whose production is dropping due to barn boredom syndrome. As each product must be made to the specifications of the user it will serve, the company uses a job order costing system. During June it started three cords and there was no beginning Work-In-Process inventory. Factory overhead is applied at the rate of 50% of direct labor cost. Cord 1 and Cord 2 were completed during June. Cord 3 was not done at the end of June. Cords 1, 2, and 3 had the direct materials costs of $100, $150, and $200 respectively. Cords 1, 2, and 3 had direct labor costs of $60, $100, and $100 respectively. What is Cowabungies ending June Work-In-Process Inventory amount?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students