Madtack Company uses a job-order costing system and started the month of March with three jobs
in process. The cost of beginning work in process plus the costs added during March are shown
below:
Job #359 Job #360 Job #361 beginning work in process ….. $4,800 $6,300 $3,500 COSTS ADDED DURING MARCHdirect materials ………….. $6,400 $3,300 $4,100 direct labor ……………… 3,000 4,000 5,000
Madtack applies overhead to jobs using a pre-determined overhead rate of 120% of direct labor
cost. Madtack calculated its work in process at March 31 to be $17,800 and its cost of goods
sold for