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Direct manufacturing labor is paid at the rate of $25 per hour. Manufacturing ov
The May income statement reported that sales were not meeting expectations. For
September 15, 2020Direct materials and direct labor are paid for on a contract basis. The costs of
September 15, 2020Direct manufacturing labor is paid at the rate of $25 per hour. Manufacturing overhead costs are allocated at a budgeted rate of $20 per direct manufacturing labor-hour. Only Job Ml was completed in May. If you want to use Excel to solve this exercise go to the Excel Lab at www.prenhall.com/horngren/costl3e and download the template for Exercise 4-27.1. Compute the total cost for Job Ml.2. 1500 pipes were produced for Job Ml. Calculate the cost per pipe.3. Prepare the journal entry transferring Job Ml to finished goods.4. What is the ending balance in the Work-in-Process Controlaccount?
