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Leelanau Corporation uses a job-order costing system. The following data are for last year: Work in process beginning balance S 10,500 Work in process ending balance S 19,000
Leelanau Corporation uses a job-order costing system. The following data are for last year: Work in process beginning balance S 10,500 Work in process ending balance S 19,000Cost of goods manufactured S 323,000
Direct materials S 115,000
Direct Labor S 78,000 Leelanau applies overhead using a predetermined rate. What amount of overhead was applied to work in process last year? 18) _____
A) $203,500 B)S130,000 C) $138,500 D) S121,500
The Answer is $138,500.Job Order CostingEmployed chiefly by businesses that provide work tailored to the client's needs, job order costing is a method of allocating the cost of production to a single manufacturing job. Additionally, this system is employed when each output is unique from the others. Therefore, the same product cannot be used by others.Cost Types Associated with Job Order CostingDirect Materials: Direct materials account for the majority of the cost of a job order. The quality and quantity of the completed goods directly impact these prices. Natural materials are used now in the execution of particular tasks or the production of final goods.Direct labour costs are identified and included in the product price in work order costing. Direct labour cost is estimated based on the workforce and the number of hours worked. Direct labour costs account for around 80%–90% of the total price if the job involves providing a service.Expenditures are associated with producing a good or providing a service that is not directly related to labour or materials, such as rent, electricity, depreciation, legal fees, and other costs. Some overhead expenses are not changeable, while others are changeable.To know more aboutJob Order Costingvisit:brainly.com/question/26332605#SPJ4...