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    najma.ghaffar's Avatar
    najma.ghaffar Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Feb 6, 2012, 06:26 AM
    Solutions of manufacturing cost questions?
    Material used 300000
    Direct labour 800000
    Overhead cost 640000
    Wip(anding) 140000

    Required:
    Determine the cost of direct material included in the work in precess ending assuming that the direct labor cost included in the ivventory of work in process is 50,000
    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
    Senior Member
    		  
    #2

    Feb 7, 2012, 04:09 AM
    W I P Inventory value $140,000
    Less:
    Direct Labor $50,000
    Overheads 80%.40,000
    Total conversion costs 90,000
    Balance raw materials 50,000

    (Overhead rate 640,000/800,000 = 80%)
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