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Question
A company's overhead rate is 60% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used:
| Goods in Process Inventory | Finished Goods Inventory | |||||
| Beg. Bal. 100,800 | Beg. Bal. 118,200 | |||||
| D.M. ? | 324,800 | 301,000 | ||||
| D.L. ? | ||||||
| O.H. ? | F. G. ? | |||||
| End. Bal. 131,040 | End. Bal. 142,000 | |||||
| Factory Overhead | ||||||
| 93,240 | 90,720 | |||||
A. $106,400
B. $113,120
C. $30,240
D. $211,680
E. $324,800
Answer
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