How do I determine the manufacturing overhead applied to work in process?
How do I determine the manufacturing overhead applied to work in process?
Homework Answers
| Manufacturing Overheads consist of following expenses |
| Indirect Labour |
| Indirect material |
| Utilities for the factory |
| Rent on the factory building. |
| Salaries of maintenance employee |
| Salaries of manufacturing managers etc.. |
|
The above cost can be determined in work in process on the basis of time proportionate. |
| Say for example Labour cost is $500 of 8 hours then per hour rate will be $62.5 this rate can be applied to time |
|
used or consumed in work in process . Similarly rent on factory building can also be assigned to work in process on the basis of time consumed. |
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How do I determine the manufacturing overhead applied to work in
process?
Why is manufacturing overhead applied to jobs (and into Work in Process)? Why aren’t actual costs...
Why is manufacturing overhead applied to jobs (and into Work in Process)? Why aren’t actual costs assigned?
Applied vs. Actual Manufacturing Overhead Sloan Manufacturing Corporation applies manufacturing overhead on the basis of 120%...
Applied vs. Actual Manufacturing Overhead Sloan Manufacturing Corporation applies manufacturing overhead on the basis of 120% of direct labor cost. An analysis of the related accounts and job order cost sheet indicates that during the year total manufacturing overhead incurred was $525,000 and that at year-end Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold included $75,000, $50,000, and $375,000, respectively, of direct labor incurred during the current year a. Determine the over-applied manufacturing overhead at year-end...
10) Under Pick Co.'s job-order costing system, manufacturing overhead is applied to work- in-process using a...
10) Under Pick Co.'s job-order costing system, manufacturing overhead is applied to work- in-process using a predetermined annual overhead rate. During January, Pick's transactions included the following: Direct materials issued to production $90,000 Indirect materials issued to production 8,000 Manufacturing overhead incurred $125,000 Manufacturing overhead applied 113,000 Direct labor cost 107,000 Pick had neither beginning nor ending work-in-process inventory. What was the cost of jobs completed in January? a) $302.000 b) $310,000 c) $322,000 d) $330,000
2 pts Question 34 In a process costing system, when manufacturing overhead costs are applied to...
2 pts Question 34 In a process costing system, when manufacturing overhead costs are applied to the cost of production, they are debited to: the Finished Goods Inventory account. the Cost of Goods Sold account. the Work in Process Inventory account. the Manufacturing Overhead account. the Raw Materials Inventory account. one must be able to reasonable Question 33 201 Wilturner Company incurs $82,000 of labor related directly to the product in the Assembly Department, $31,000 of labor related to the...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) (Do not round...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) (Do not round...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) (Do not round...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a...
Mulligan Manufacturing Company uses a job order cost system with
overhead applied to products at a rate of 150 percent of direct
labor cost. Required: Treating each case independently, selected
from the manufacturing data given below, find the missing amounts.
You should do them in the order listed. (Hint: For the
manufacturing costs in Case 3, first solve for conversion costs and
then determine how much of that is direct labor and how much is
manufacturing overhead.) (Do not round...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) (Do not round...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) (Do not round...
Applied vs. Actual Manufacturing Overhead Sloan Manufacturing Corporation applies manufacturing overhead on the basis of 120% of direct labor cost. An analysis of the related accounts and job order cost sheet indicates that during the year total manufacturing overhead incurred was $525,000 and that at year-end Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold included $75,000, $50,000, and $375,000, respectively, of direct labor incurred during the current year a. Determine the over-applied manufacturing overhead at year-end...
10) Under Pick Co.'s job-order costing system, manufacturing overhead is applied to work- in-process using a predetermined annual overhead rate. During January, Pick's transactions included the following: Direct materials issued to production $90,000 Indirect materials issued to production 8,000 Manufacturing overhead incurred $125,000 Manufacturing overhead applied 113,000 Direct labor cost 107,000 Pick had neither beginning nor ending work-in-process inventory. What was the cost of jobs completed in January? a) $302.000 b) $310,000 c) $322,000 d) $330,000
2 pts Question 34 In a process costing system, when manufacturing overhead costs are applied to the cost of production, they are debited to: the Finished Goods Inventory account. the Cost of Goods Sold account. the Work in Process Inventory account. the Manufacturing Overhead account. the Raw Materials Inventory account. one must be able to reasonable Question 33 201 Wilturner Company incurs $82,000 of labor related directly to the product in the Assembly Department, $31,000 of labor related to the...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) (Do not round...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) (Do not round...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) (Do not round...
Mulligan Manufacturing Company uses a job order cost system with
overhead applied to products at a rate of 150 percent of direct
labor cost. Required: Treating each case independently, selected
from the manufacturing data given below, find the missing amounts.
You should do them in the order listed. (Hint: For the
manufacturing costs in Case 3, first solve for conversion costs and
then determine how much of that is direct labor and how much is
manufacturing overhead.) (Do not round...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) (Do not round...
Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) (Do not round...
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