Cost Accounting Quiz
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COST ACCUMULATION SYSTEMS
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Meridian Corp uses job-order costing and applies overhead based on direct labor dollars at a rate of 125%. During September, three jobs were in process. Job A-12 incurred $6,000 in direct labor and $9,500 in direct materials. Job B-15 had $4,500 in direct labor and $7,200 in direct materials. Job C-18 required $8,000 in direct labor and $11,800 in direct materials. At month-end, only Job C-18 remained incomplete.
What amount should be reported as Work in Process inventory at September 30?
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