6: At the beginning of the year, Beemo Inc. had these beginning balances Cash Control: $1,440,000...

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6: At the beginning of the year, Beemo Inc. had these beginning balances Cash Control: $1,440,000 Raw Material Control: $470,

estion 8: Tree Trunks Co. makes two different types of pastries: Pies and Cakes. Tree Trunks Co. currently uses normal co

Question 5: Journal Entries: Letter Account Debit Credit a) Merchandise Inventory $555,000 Accounts Payable $555,000 (To reco

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Answer 1

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6		Raw materials control
		Debit		Credit
	Balance	470300	b.	624300
	a.	555000
		1025300		624300
	Balance	401000

		Work in process control
		Debit		Credit
	Balance	133800	f.	1267470
	b-1.	520400
	c-2.	546000
	e.	300860
		1501060		1267470
	Balance	233590

	Finished goods control account
		Debit		Credit
	Balance	367000	g.	1524550
	f.	1267470
		1634470		1524550
	Balance	109920

	Manufacturing overhead control
		Debit		Credit
	b-2.	103900	e.	300860
	c-3.	88000
	d-1.	99900
		291800		300860
			Balance	9060

	Debit side=Manufacturing overhead incurred=$ 291800
	Credit side=Manufacturing overhead applied=$ 300860
	MOH applied > MOH incurred.
	Overhead is said to be over-applied
	Over-applied overhead=300860-291800=$ 9060

	a.	401000
	b.	233590
	c.	109920
	d.	Over-applied
	e.	$9,060

7	Account				Debit	Credit
	Manufacturing overhead control				9060
	Cost of goods sold					9060
	(Over-applied overhead adjusted)

	Manufacturing overhead control
		Debit		Credit
	b.	103900	e.	300860
	c.	88000
	d.	99900
	Adj	9060
		300860		300860
			Balance	0

8
a&b.					Pies	Cakes
	Direct materials				960000	600000
	Direct labor				270000	120000
	Overhead allocated			(Note:1)	270000	108000
	Total cost			a	1500000	828000
	Units produced			b	500000	300000
	Cost per unit			a/b	3	2.76

	Note:1
	Predetermined overhead rate=Estimated MOH/Estimated direct labor hours=378000/(30000+12000)=378000/42000=$9 per hour
	Overhead allocated=Predetermined overhead rate*Direct labor hours
					Pies	Cakes
	Predetermined overhead rate			a	9	9
	Direct labor hours			b	30000	12000
	Overhead allocated			a*b	270000	108000

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