The Work in Process Inventory Account for Corbett Company for the Month

question 55

Essay

The Work in Process Inventory account for Corbett Company for the month ended June 30 appears below.
$$\begin{array}{l}\text { Work in Procen is Inventory }\\\begin{array} { l | c } \hline \text { Beginning Balence } & \text { Completed } \\0 & 135,800 \\\text { Direct Materiels } & \\38,200 & \\\text { Direct Labor } \\48,000 & \\\text { Overhead } & \\86,400\end{array}\end{array}$$ Overhead is applied based on direct labor dollars.Direct material costs for the one job remaining in work in process on June 30 was $12,300.
a. What was the overhead rate used to apply overhead to jobs?
b. Determine the amount of direct labor charged to the one remaining job.

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Definitions:

Environment

The surroundings or conditions in which a person, animal, or plant lives or operates, including both natural and built factors.

Experiences

Events or occurrences that leave an impression on someone, contributing to their knowledge or understanding of the world.

Biological Perspective

An approach in psychology that examines behaviors, emotions, and thoughts through a biological lens, emphasizing genetic, hormonal, and neurological influences.

Bodily Events

Physiological occurrences within the body, such as hormonal changes, muscle contractions, or neural activities.