Rio Manufacturing Company Assignment | Top Universities
Rio Manufacturing Company uses a job order cost system. At the beginning of February, Rio only had one job in the process, Job #594. The direct costs assigned to this job at that time were $800 of materials and $650 of labor. Job #594 was finished during February incurring additional direct costs of $120 for materials and $370 for labor. Job #595 was started and finished in February.
The direct costs assigned to this job were $310 for materials and $190 for labor. Job #596 was started during February but was not finished by the end of the month. The direct costs assigned to this job were $740 for materials and $300 for labor. Rio applies manufacturing overhead to its products at a rate of 200% of direct labor cost. What is Rio’s cost of goods manufactured for February?
D) $6,500. Get Accounting Homework Help Today.