1) | Raw Material used in production = | Beginning Balance + Debits - Ending Balance | ||||
= | $ 32000 + $ 154000 - $ 42000 | |||||
= | $ 144,000.00 |
2) | Indirect Materials | = | Raw Material used in production - Direct Materials | |||
= | $ 144000 - $ 107000 | |||||
= | $ 37,000.00 |
3) | Indirect Labor | = | Credits in Factory Wages Payable - Direct Labor | |||
= | $ 214000 - $ 201000 | |||||
= | $ 13,000.00 |
4) | Cost of Goods Manufactured | = | Credits in Work in Process | ||
= | $ 521,000.00 |
5) | Unadjusted COGS | = | Beginning Finished Goods + Cost of Goods manufactured - Ending Finished Goods | |||
= | $ 57000 + $ 521000 - $ 85500 | |||||
= | $ 492,500.00 |
6) | Predetermined OH rate | = | Overhead applied / Direct Labor | |||
= | $ 221100 / $ 201000 | |||||
= | 110% | of Direct Labor |
7) | Actual Manufacturing OH | = | $ 194,100.00 | ||
Applied Manufacturing OH | = | $ 221,100.00 | |||
Overapplied OH | = | $ 27,000.00 |
8) | Ending Balance of WIP | = | Beg. Bal + Direct Material + Direct Labor + Overhead - Credits | ||
= | $ 37000 + $ 107000 + $ 201000 + $ 221100 - $ 521000 | ||||
= | $ 45,100.00 | ||||
Applied OH included in it | = | 110% of Direct Labor Cost | |||
= | $ 12250 x 110% | ||||
= | $ 13,475.00 | ||||
Direct Material Cost | = | Ending WIP - Direct Labor - Applied OH | |||
= | $ 45100 - $ 13475 - $ 12250 | ||||
= | $ 19,375.00 |
Selected T-accounts of Moore Company are given below for the just completed year: Manufacturing Overhead 194,100...
Selected T-accounts of Moore Company are given below for the just completed year: Manufacturing Overhead 188,400 Credits Debits Bal. 1/1 Debits Bal. 12/31 530,000 Debits Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Raw Materials 35,000 Credits 160,000 45,000 Work in Process 40,000 Credits 110,000 210,000 218,400 ? Finished Goods 60,000 Credits ? 90,000 Factory Wages Payable 225,000 Bal. 1/1 Credits Bal. 12/31 19,000 220,000 14,000 Cost of Goods Sold ? Debits Bal. 1/1 Debits Bal. 12/31 Required: 1....
Selected T-accounts of Moore Company are given below for the just completed year: Manufacturing Overhead 203,200 Credits ? Debits ? Bal. 1/1 Debits Bal. 12/31 Raw Materials 25,000 Credits 140,000 35,000 Work in Process 30,000 Credits 100,000 180,000 223,200 500,000 Debits Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Factory Wages Payable 205,000 Bal. 1/1 Credits Bal. 12/31 14,000 200,000 9,000 Cost of Goods Sold Finished Goods 50,000 Credits ? Debits Bal. 1/1 Debits Bal. 12/31 75,000 Required: 1....
Selected T-accounts of Moore Company are given below for the just completed year: Manufacturing Overhead 188,400 Credits 2 Debits ? Bal. 1/1 Debits Bal. 12/31 530,000 Debits Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Raw Materials 35,000 Credits 160,000 45,000 Work in Process 40,000 Credits 110,000 210,000 218,400 ? Finished Goods 60,000 Credits ? 90,000 Factory Wages Payable 225,000 Bal. 1/1 Credits Bal. 12/31 19,000 220,000 14,000 Cost of Goods Sold ? Debits Bal. 1/1 Debits Bal. 12/31...
Selected T-accounts of Moore Company are given below for the just completed year: Manufacturing Overhead 196,800 Credits ? Debits Bal. 1/1 Debits Bal. 12/31 Raw Materials 29,000 Credits 148,000 39,000 Work in Process 34,000 Credits 104,000 192,000 220,800 512,000 Debits Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Factory Wages Payable 213,000 Bal. 1/1 Credits | Bal. 12/31 16,000 208,000 11,000 Cost of Goods Sold Finished Goods 54,000 Credits ? Debits Bal. 1/1 Debits Bal. 12/31 81,000 Required: 1....
Selected T-accounts of Moore Company are given below for the just completed year: Manufacturing Overhead 210,800 Credits Debits Bal. 1/1 Debits Bal. 12/31 Raw Materials 21,000 Credits 132,000 31,000 Work in Process 26,000 Credits 96,000 168,000 226,800 488,000 Debits Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Factory Wages Payable 197,000 Bal. 1/1 Credits | Bal. 12/31 12,000 192,000 7,000 Cost of Goods Sold Finished Goods 46,000 Credits 2 ? Debits Bal. 1/1 Debits Bal. 12/31 69,000 Required: 1....
Selected T-accounts of Moore Company are given below for the just completed year: Manufacturing Overhead 230,000 Credits ? Debits 230,0 Bal. 1/1 Debits Bal. 12/31 Raw Materials 15,000 Credits 120,000 25,000 Work in Process 20,000 Credits 90,000 150,000 240,000 470,000 Debits Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Factory Wages Payable 185,000 Bal. 1/1 Credits | Bal. 12/31 9,000 180,000 4,000 Cost of Goods Sold Finished Goods 40,000 Credits ? Debits Bal. 1/1 Debits Bal. 12/31 60,000 Required:...
Selected T-accounts of Moore Company are given below for the just completed year: ? Debits Manufacturing Overhead 186,200 Credits ? Bal. 1/1 Debits Bal. 12/31 Raw Materials 33,000 Credits 156,000 43,000 Work in Process 38,000 Credits 108,000 204,000 214,200 524,000 Debits Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Factory Wages Payable 221,000 Bal. 1/1 Credits | Bal. 12/31 18,000 216,000 13,000 Cost of Goods Sold Finished Goods 58,000 Credits ? Debits 21 Bal. 1/1 Debits Bal. 12/31 87,000...
Selected T-accounts of Moore Company are given below for the just completed year: Manufacturing Overhead 203,800 Credits Debits - Manufacturing o ? Debits Bal. 1/1 Debits Bal. 12/31 Raw Materials 28,000 Credits 146,000 38,000 Work in Process 33,000 Credits 103,000 189,000 226,800 Factory Wages 509,000 ,000 Debits Debits Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Factory Wages Payable 211,000 Bal. 1/1 Credits Bal. 12/31 15,500 206,000 10,500 Cost of Goods Sold Finished Goods 53,000 Credits ? Debits Bal....
Managerial Accounting
Selected T-accounts of Moore Company are given below for the just completed year Manufacturing Overhead 189,500 Credits ? Debits Bal. 1/1 Debits Bal. 12/31 Raw Material 30,000 Credits 150,000 40,000 Work in POCOS 35,000 Credits 105,000 195,000 214,500 515,000 Debits Bal. 1/1 Direct material Direct labor Overhead Bal 12/31 Factory Wages Payable 215,000 Bal. 1/1 Credits Bal. 12/31 16,500 210,000 11,500 Cost of Coods Sold Finished Goods 55,000 Credits Bal. 1/1 Debita Bal. 12/31 82,500 Required: 1. What...
Selected T-accounts of Moore Company are given below for the just completed year Raw Materials Manufacturing overhead Bal. 1/1 15,000 Credits Debits 1239,980 Credits Debits 120,000 Bal. 12/31 25,000 Work in Process Factory Wages Payable Bal. 1/1 20,000 Credits 470,980 Debits 185,000 Ball 1/1 Direct materials 90,000 Credits Direct labor 15e,eee Bal 12/31 Overhead 240,000 Bal. 12/31 Finished Goods Cost of Goods Sold Bal. 1/1 40,000 Credits Debits 21 Debits Bal. 12/31 60,080 26 t Inces Required: 1. What was...