Madtack Company uses a job-order costing system and started the month of March with only one job in process (Job #359). This job had $5,000 of total cost assigned to it at the beginning of March.
Madtack applies overhead to jobs at a rate of 75% of direct labor cost. During March, Madtack assigned production costs as follows to the jobs worked on during the month:
During March, Madtack completed and sold Job #361. Job #359 was also completed but was not sold
by the end of March. Job #360 was not completed by the end of March.
Calculate Madtack’s cost of goods manufactured for March. Do not use decimals in your answer.