EXERCISE 3-17 (30 MINUTES)

5. The amount of overhead cost in Work in Process would be:

$24,000 direct materials cost × 160% = $38,400.

The amount of direct labor cost in Work in Process would be:

Total ending work in process... $70,000

Deduct: Direct materials ... $24,000

Manufacturing overhead... 38,400 62,400

Direct labor cost... $ 7,600

The completed schedule of costs in Work in Process would be:

Direct materials... $24,000

Direct labor... 7,600

Manufacturing overhead ... 38,400

Work in process inventory... $70,000

Problem 3-28 (60 minutes)