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During 2019, Coronado Industries expected Job No. 26 to cost $300000 of overhead, $500000 of materials, and $200000 in labor. Coronado applied overhead based on direct labor cost. Actual production required an overhead cost of $370000, $610000 in materials used, and $260000 in labor. All of the goods were completed. What amount was transferred to Finished Goods?

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ayokenny2001

Answer:

See below

Explanation:

Given the above information, first we will compute the predetermined overhead rate

Predetermined overhead rate

= Estimated manufacturing overhead / Estimated labor

= $300,000/$200,000

= 1.5

The next step is to apply the

= [(1.5 × $260,000) + $260,000 + $610,000]

= $390,000 + $260,000 + $610,000

= $1,260,000

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