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LeBlanc Company has the following balances as of the year ended December 31, 2015.Direct Materials ...

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LeBlanc Company has the following balances as of the year ended December 31, 2015.Direct Materials ...

LeBlanc Company has the following balances as of the year ended December 31, 2015.

   Direct Materials Inventory   $15,000   Dr.
   WIP Inventory   34,500   Dr.
   Finished Goods Inventory   49,500   Dr.
   Cost of Goods Sold   74,500   Dr.

Additional information is as follows:

   Cost of direct materials purchased during 2015   $41,000
   Cost of direct materials requisitioned in 2015   47,000
   Cost of goods completed during 2015   102,000
   Factory overhead applied (120% of direct labour)   48,000
   Underapplied factory overhead   4,000

Required:
a.   Compute beginning direct materials inventory.
b.   Compute beginning WIP inventory.
c.   Compute beginning finished goods inventory.
d.   Compute actual factory overhead incurred.

Textbook

Cost Accounting: A Managerial Emphasis, Canadian Edition

Edition: 7^th

Authors: Horngren, Datar, Rajan, Beaubien

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