a. Direct amount of raw material purchased $275000
b. Work in process debited with $220000 i.e. raw material
charged to production
Remaining $280000 - $220000 = $60000 debited to Manufacturing
Overhead for indirect material used
c. Work in process debited with $180000 i.e. direct labor
cost
$72000 debited to Manufacturing Overhead for indirect labor
cost
Others entered directly to respective heads
d. Manufacturing overhead debited with $13000 for rent related
to factory operations
Remaining $18000 - $13000 = $5000 debited to rent expense
e. Manufacturing overhead is debited with $57000 for utilities cost of factory
f. Advertisement expense is debited by crediting accounts payable
g. Manufacturing overhead debited with $88000 for depreciation
related to equipment used in factory operations
And remaining $12000 debited to Depreciation expense
h. Predetermined overhead rate = $330000 / $200000 = 165% of
Direct Labor cost
Manufacturing overhead applied = $180000 x 165% = $297000
i. & j Direct amounts are given
Cost of goods sold will not have any opening balance
please show how to find the numbers. Problem 3-16 Comprehensive Problem (L03-1, LO3-2, L03-4) Gold Nest...
Problem 3-16 Comprehensive Problem (LO3-1, LO3-2, LO3-4) points Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $76,000 of manufacturing...
Problem 3-16 Comprehensive Problem (LO3-1, LO3-2, LO3-4) Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales. The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $95,000 of manufacturing overhead...
Problem 3-16 Comprehensive Problem [LO3-1, LO3-2, LO3-4] Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales. The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $103,500 of manufacturing overhead...
Problem 3-16 Comprehensive Problem [LO3-1, LO3-2, LO3-4] Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $60,000 of manufacturing overhead...
PROBLEM 3-16 Comprehensive Problem L03-10, L03-20, L03-42 Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales. The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $330,000 of manufacturing overhead...
Problem 3-16 Comprehensive Problem (LO3-1, LO3-2, LO3-4) Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales. The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $103,500 of manufacturing ovechead...
Problem 3-16 Comprehensive Problem [LO3-1, LO3-2, LO3-4] Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales. The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $75,000 of manufacturing overhead...
Problem 3-16 Comprehensive Problem [LO3-1, LO3-2, LO3-4] Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales. The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $85,500 of manufacturing overhead...
Problem 3-16 Comprehensive Problem [LO3-1, LO3-2, LO3-4] Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales. The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $60,000 of manufacturing overhead...
All help greatly Appreciated. Thank you. Problem 3-16 Comprehensive Problem [LO3-1, LO3-2, LO3-4) Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales The company uses a job order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost...