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Danica Corp. provided the following inventory balances and cost data for the month of June.   June 1 June 30 Direct Materials 30 000 40 000 Work in Process 15 000 20 000 Finished Goods 65 000 50 000 Production data for the month of June follows: Cost of goods manufactured 515 000 Factory overhead applied 150 000 Direct materials used 190 900 Actual factory overhead 144 000 Required: Compute the cost of goods sold under NORMAL COSTING

Danica Corp. provided the following inventory balances and cost data for the month of June.   June 1 June 30 Direct Materials 30 000 40 000 Work in Process 15 000 20 000 Finished Goods 65 000 50 000 Production data for the month of June follows: Cost of goods manufactured 515 000 Factory overhead applied 150 000 Direct materials used 190 900 Actual factory overhead 144 000 Required: Compute the cost of goods sold under NORMAL COSTING

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6PB: During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of...
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Danica Corp. provided the following inventory balances and cost data for the month of June.

  June 1 June 30
Direct Materials 30 000 40 000
Work in Process 15 000 20 000
Finished Goods 65 000 50 000

Production data for the month of June follows:

Cost of goods manufactured 515 000
Factory overhead applied 150 000
Direct materials used 190 900
Actual factory overhead 144 000

Required: Compute the cost of goods sold under NORMAL COSTING.

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