Here are data regarding Standard Company\'s current year operatIUS Work in proce

Question

Here are data regarding Standard Company's current year operatIUS Work in process inventory, end of year Finished goods inventory, end of year Direct materials used Direct labor used Indirect materials used Under-allocated manufacturing overhead Cost of goods manufactured Cost of goods sold Manufacturing overhead rate (% of direct labor costs) $39,000 $54,100 $60,000 $42,000 $7,100 $2,600 $110,000 $81,000 120% What are Standard's actual manufacturing overhead costs for the year? $53,000 $50,400 O$47,800 $42,000

Explanation / Answer

The answer is "$53,000"

Actual manufacturing overhead costs

= (42,000 x 120%) + 2,600 = $53,000

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