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30-10-2020
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Markley Manufacturing calculated its predetermined overhead rate to be 120% of direct labor cost. During June, the company incurred $90,000 of factory labor costs, of which $85,000 is direct labor and $5,000 is indirect labor. Actual overhead incurred was $84,000. How much will Markley debit Work in Process Inventory in June

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abiolataiwo2015 abiolataiwo2015

02-11-2020

Answer:

$102,000

Explanation:

Calculation for How much will Markley debit Work in Process in June

Using this formula

Debit Work in Process =Direct labor* Direct labor predetermined overhead rate percentage

Let plug in the formula

Debit Work in Process=$85,000 *120%

Debit Work in Process=$102,000

Therefore Markley debit Work in Process in June will be $102,000

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