the work in process inventory account of a manufacturing company 526439
The work-in-process inventory account of a manufacturing company shows a balance of $3,000 at the end of an accounting period. The job-cost sheets of the two incom-plete jobs show charges of $500 and $300 for direct materials, and charges of $400 and $600 for direct labor. From this information, it appears that the company is using a predetermined overhead rate as a percentage of direct labor costs. What percentage is the rate?
2. The break-even point in dollar sales for Rice Company is S480,000 and the company’s contribution margin ratio is 40 percent. If Rice Company desires a profit of $84,000, how much would sales have to total?
3. Williams Company’s direct labor cost is 25 percent of its conversion cost. If the manufacturing overhead for the last period was $45,000 and the direct material cost was $25,000, how much is the direct labor cost?
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