PHP uses job costing. Manufacturing overhead is applied to production at a predetermined overhead rate...
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PHP uses job costing. Manufacturing overhead is applied to production at a predetermined overhead rate of 60% of direct labour cost. Other information relating to the company's inventories and production for the month of March is as follows:
| $ | |
| Actual overhead cost | 372,595 |
| Actual direct materials | 175,047 |
| Actual direct labour | 314,000 |
| WIP beginning balance | 8,656 |
| WIP - ending balance | 6,627 |
Calculate the cost of goods manufactured for the month of March
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