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QUESTION
A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used.
A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used.
Work in Process InventoryBeginning WIP50,000 Direct Materials? Direct Labor? Applied Overhead? To Finished Goods ?Ending WIP60,000 Factory Overhead138,000140,000Finished Goods InventoryBeginning FG40,000 265,000 270,000Ending FG35,000
