Your company uses job order costing. Manufacturing overhead is charged to individual jobs through the...
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Accounting
Your company uses job order costing. Manufacturing overhead is charged to individual jobs through the use of a predetermined overhead rate based on direct labor costs. The following information appears in the companys Work in Process Inventory account for the month of April:
| Debits to account: | |
| Balance, April 1 | $ 9,600 |
| Direct materials | 14,000 |
| Direct labor | 6,000 |
| Manufacturing overhead (applied to jobs as 120% of direct labor cost) | 7,200 |
| Total debits to account | $36,800 |
| Credits to account: | |
| Transferred to Finished Goods Inventory | $27,600 |
| Balance, April 30 | $ 9,200 |
Assuming that direct labor charged to the jobs still in process at April 30 amounts to $1,500, compute the amount of manufacturing overhead and the amount of direct materials that have been charged to the jobs that are still in process as of April 30. Explain your answer.
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