Bal. 1/1 35,000 Credits ? Debits 389,000 Credits ? Debits 420,000 Bal. 12/31 52,
ID: 2373295 • Letter: B
Question
Bal. 1/1 35,000
Credits ?
Debits 389,000
Credits ?
Debits 420,000
Bal. 12/31 52,000
Bal. 1/1 76,000
Credits 800,000
Debits 175,000
Bal. 1/1 17,000
Credits 178,000
Direct labor 119,000
Bal. 12/31 20,000
Overhead 480,000
Bal. 12/31 ?
Bal. 1/1 42,000
Credits ?
Debits ?
Debits ?
Bal. 12/31 132,000
What was the cost of raw materials put into production during the year?
How much of the materials in (1) above consisted of indirect materials?
How much of the factory labor cost for the year consisted of indirect labor?
What was the cost of goods manufactured for the year?
What was the cost of goods sold for the year (before considering underapplied or overapplied overhead)?
If overhead is applied to production on the basis of direct materials cost, what predetermined rate was in effect during the year? (Round your answer to 2 decimal places.)
Was manufacturing overhead underapplied or overapplied? By how much? (Input the amount as a positive value.)
Compute the ending balance in the Work in Process inventory account. Assume that this balance consists entirely of goods started during the year. If $32,300 of this balance is direct materials cost, how much of it is direct labor cost? Manufacturing overhead cost? (Round your predetermined overhead rate percentage and final answers to 2 decimal places.)
Explanation / Answer
2. 82,000
3. 59,000
4. 800,000
5. 710,000
6. 149.5 % 0r nearly 150%
1. 403,0002. 82,000
3. 59,000
4. 800,000
5. 710,000
6. 149.5 % 0r nearly 150%
7. 91,0008. Ending balance in the work in process = 196,000
Manufacturing overhead cost = 48,288.50
direct labour coost = 147,711.50
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