McAllister, Inc. employs a normal costing system. The following information pertains to the year just ended. •Total manufacturing costs were $1,300,000. •Cost of goods manufactured was $1,265,000. •Applied manufacturing overhead was 30 percent of total manufacturing costs. •Manufacturing overhead was applied to production at a rate of 80 percent of direct-labor cost. •Work-in-process inventory on January 1 was 75 percent of work-in-process inventory on December 31.
1. Compute the total direct-labor cost for the year.
2. Calculate the total cost of direct material used during the year.
3. Compute the value of the company’s work-in-process inventory on December 31.
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McAllister, Inc. employs a normal costing system. The following information pertains to the year jus...
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