Benny Industries Allocates Manufacturing Overhead at a Predetermined Rate of 160

question 162

Essay

Benny Industries allocates manufacturing overhead at a predetermined rate of 160% of direct labor cost. Any overallocated or underallocated overhead is closed to the cost of goods sold at the end of the month. Below is information on job 205 that was in process at the end of the month of October
Direct materials $4,000
Direct labor $3,000
Allocated manufacturing overhead $4,800
Jobs 206, 207, and 208 were started in November. Direct materials that were used in November were $26,000 and direct labor costs were $21,000. For the month of November, actual manufacturing overhead was $32,000. The only job still in process on the last day of November was job 104 with the following costs: $3,000 for direct materials and $1,500 for direct labor.
Required:
Calculate the cost of goods manufacturered for November.

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Definitions:

Conditioned Stimulus

A stimulus that, after association with an unconditioned stimulus, comes to trigger a conditioned response.

Hospital

A health care institution providing patient treatment with specialized medical and nursing staff and medical equipment.

Parking Lot

An area designated for the parking of vehicles, typically paved and marked with lines to organize spaces.

Shots

Medical injections or vaccinations administered through a needle for the purpose of preventing or treating various diseases.