Question

Madtack Company uses a job-order costing system and started the month of March with three jobs in process. The cost of beginning work in process plus the costs added during March are shown below: Job #359 Job #360 Job #361 beginning work in process ..... $4,800 $6,300 $3,500 COSTS ADDED DURING MARCH direct materials .............. $3,300 $4,100 $4,600 direct labor .................. 5,000 3,000 4,000 Madtack applies overhead to jobs at a rate of 70% of direct materials used. During March, Madtack completed and sold Job #360. Job #361 was also completed but was not sold by the end of March. Job #359 was not completed by the end of March. Madtack's actual overhead cost for the month of March totaled $9,500. Calculate Madtack's cost of goods sold for March after the overhead variance is closed.

          Madtack Company uses a job-order costing system and started the month of
March with three jobs in process. The cost of beginning work in process
plus the costs added during March are shown below:
                                  Job #359      Job #360      Job #361
beginning work in process .....    $4,800        $6,300        $3,500
COSTS ADDED DURING MARCH
direct materials ..............    $3,300        $4,100        $4,600
direct labor ..................     5,000         3,000         4,000
Madtack applies overhead to jobs at a rate of 70% of direct materials used.
During March, Madtack completed and sold Job #360. Job #361 was also
completed but was not sold by the end of March. Job #359 was not completed
by the end of March. Madtack's actual overhead cost for the month of March
totaled $9,500.
Calculate Madtack's cost of goods sold for March after the overhead variance
is closed.

madtack company uses a job order costing system and started the month of march with three jobs in process the cost of beginning work in process plus the costs added during march are shown be 57644

Added by Matthew G.

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