Kirkaid Company recorded the following transactions for the just completed month
ID: 2507781 • Letter: K
Question
Kirkaid Company recorded the following transactions for the just completed month: a. $84,000 in raw materials were requisitioned for use in production. Of this amount, $72,000 was for direct materials and the remainder was for indirect materials. b. Total labor wages of $108,000 were incurred. Of this amount, $105,000 was for direct labor and the remainder was for indirect labor. c. Additional actual manufacturing overhead costs of $197,000 were incurred. d. A total of $218,000 in manufacturing overhead was applied to jobs.
Explanation / Answer
Overhead used in production:
12,000 for indirect materials
3,000 for indirect labor
197,000 other OH costs incurred
Total = 212,000
Amount applied = 218,000
218,000
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