Question Details

Lafleur Inc uses a job order costing system



1.	Lafleur Inc uses a job order costing system. Manufacturing overhead is applied on the basis of direct labor cost. Total manufacturing overhead was estimated to be $120,000 for the year; direct labor was estimated to total $150,000.
  
	1/1	12/31
Raw materials inventory	$13,000	$10,000
Work in process inventory	$29,000	$22,000
Finished goods inventory	$41,000	$32,000
The following transactions have occurred during the year.		
Raw materials purchases		$100,000
Direct materials used		$87,000
Direct labor		$135,000
Indirect materials used		$16,000
Indirect labor		$19,000
Factory equipment depreciation		$28,000
Factory rent		$15,000
Factory utilities		$11,500
Other factory costs		$8,500

a. Calculate the predetermined overhead rate
b. Calculate cost of goods manufactured
c. Calculate the over or under-applied overhead
d. Calculate adjusted cost of goods sold 




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