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New York University Operations And Supply Chain Management Assignment Help - Total manufacturing

Question - The following activities took place in the work in process inventory account during April: Beginning balance $ 15,000 Direct materials used 120,000 Total manufacturing labor incurred in April was $162,500, 80% of this amount represented direct labor. The predetermined manufacturing overhead rate is 120% of direct labor cost. Actual manufacturing overhead costs for April amounted to $150,000. Two jobs were completed with total costs of $120,000 and $85,000, respectively. They were sold on account for $265,000 and $155,000, respectively. a) Compute the balance in work in process inventory on April 30. b) Record the journal entry for direct materials used in April. c) Record the journal entry for total manufacturing labor incur ...Read More

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