The end an inventory of finishing good as a total costs of 11,809and 800 and consist...
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| Calculation of direct labor cost: | Amount $ | Note |
| Overhead applied | 3,876.00 | A |
| Overhead rate | 68% | B |
| Direct labor cost | 5,700.00 | C=A/B |
| Calculation of direct material cost incurred : | Amount $ | |
| Value of ending inventory of finishing goods | 11,809.00 | |
| Less: | ||
| Direct labor cost | 5,700.00 | See C |
| Overhead applied | 3,876.00 | |
| Direct material cost incurred | 2,233.00 |
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end an inventory of finishing good as a total costs of 11,809and
800 and consist...
A company’s ending inventory of finished goods has a total cost of $20,000 and consists of...
A company’s ending inventory of finished goods has a total cost of $20,000 and consists of 800 units. If the overhead applied to these goods is $8,000, and the predetermined overhead rate is 80% of direct labor costs, how much direct materials cost was incurred in producing these 800 units?
Portland Tile produces ceramic tiles using two sequential production departments; Tile Forming and Tile Finishing....
Portland Tile produces ceramic tiles using two sequential production departments; Tile Forming and Tile Finishing. The company uses a weighted average process costing system. Data for the Tile Forming Department Month ended Oct 31 Information about units: Units in WIP, Oct 1 4,000 Units started during Oct. 18,000 Completed and transferred to Finishing Units in WIP, Oct 31 (80% complete) 2,000 Direct materials are added at the beginning of the forming process. Information about costs: Beginning inventory consists of $800...
Portland Tile produces ceramic tiles using two sequential production departments; Tile Forming and Tile Finishing. The...
Portland Tile produces ceramic tiles using two sequential production departments; Tile Forming and Tile Finishing. The company uses a weighted average process costing system. Data for the Tile Forming Department Month ended Oct 31 Information about units: Units in WIP, Oct 1 4,000 Units started during Oct. 18,000 Completed and transferred to Finishing Units in WIP, Oct 31 (80% complete) 2,000 - Direct materials are added at the beginning of the forming process. Information about costs: Beginning inventory consists of...
Exercise JoJo Co. had the following balances and information for October Beg finished goods inventory =...
Exercise JoJo Co. had the following balances and information for October Beg finished goods inventory = $18 Beg. work in process inventory = $3 Beg, raw materials inventory = $9 End, finished goods inventory = $9 End. Work in process inventory = $6 End. raw materials inventory = $15 Raw material purchases = $OU Factory wages paid = $90 Indirect materials = $b Indirect labor $21 Other overhead costs = $54 Sales = $330 Predetermined overhead rate = 200% direct...
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4) The ending inventory of finished goods has a total cost of $9,000 and consists of 600 units. If the overhead applied to these goods is $3.000, and the overhead rate is 75% of direct labor, how much direct materials cost was incurred in producing these units? A) $9,000. B) $6,000. C) $3,750. D) $2,000. E) $4,000. The following information relates to the manufacturing operations of the JNR Printing Company for the year: Raw materials inventory Finished goods Beginning $...
how do i calculate? As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs a...
how do i calculate?
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Job 102 $40,000 12,000 4,800 Job 103 Job 104 Direct materials $50,000 $46,000 Direct labor 46,000 18,400 26,200 Overhead applied 10,480 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $11,000; direct labor, $4,000; and overhead, $1,600. Jobs 103 and 104...
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DUE SOON, PLEASE HELP!!!! Sales for the final quarter of the prior year total 800 units....
DUE SOON, PLEASE HELP!!!!
Sales for the final quarter of the prior year total 800 units. Expected sales in units) for the current year are: 720 (Quarter 1), 480 (Quarter 2), 640 (Quarter 3), and 640 (Quarter 4). Sales for the first quarter of the following year total 960 units. The selling price is $660 per unit in the first three quarters of the year, and $690 per unit in the final quarter. Company policy calls for a given quarter's...
Portland Tile produces ceramic tiles using two sequential production departments; Tile Forming and Tile Finishing. The company uses a weighted average process costing system. Data for the Tile Forming Department Month ended Oct 31 Information about units: Units in WIP, Oct 1 4,000 Units started during Oct. 18,000 Completed and transferred to Finishing Units in WIP, Oct 31 (80% complete) 2,000 Direct materials are added at the beginning of the forming process. Information about costs: Beginning inventory consists of $800...
Portland Tile produces ceramic tiles using two sequential production departments; Tile Forming and Tile Finishing. The company uses a weighted average process costing system. Data for the Tile Forming Department Month ended Oct 31 Information about units: Units in WIP, Oct 1 4,000 Units started during Oct. 18,000 Completed and transferred to Finishing Units in WIP, Oct 31 (80% complete) 2,000 - Direct materials are added at the beginning of the forming process. Information about costs: Beginning inventory consists of...
Exercise JoJo Co. had the following balances and information for October Beg finished goods inventory = $18 Beg. work in process inventory = $3 Beg, raw materials inventory = $9 End, finished goods inventory = $9 End. Work in process inventory = $6 End. raw materials inventory = $15 Raw material purchases = $OU Factory wages paid = $90 Indirect materials = $b Indirect labor $21 Other overhead costs = $54 Sales = $330 Predetermined overhead rate = 200% direct...
4) The ending inventory of finished goods has a total cost of $9,000 and consists of 600 units. If the overhead applied to these goods is $3.000, and the overhead rate is 75% of direct labor, how much direct materials cost was incurred in producing these units? A) $9,000. B) $6,000. C) $3,750. D) $2,000. E) $4,000. The following information relates to the manufacturing operations of the JNR Printing Company for the year: Raw materials inventory Finished goods Beginning $...
how do i calculate?
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Job 102 $40,000 12,000 4,800 Job 103 Job 104 Direct materials $50,000 $46,000 Direct labor 46,000 18,400 26,200 Overhead applied 10,480 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $11,000; direct labor, $4,000; and overhead, $1,600. Jobs 103 and 104...
DUE SOON, PLEASE HELP!!!!
Sales for the final quarter of the prior year total 800 units. Expected sales in units) for the current year are: 720 (Quarter 1), 480 (Quarter 2), 640 (Quarter 3), and 640 (Quarter 4). Sales for the first quarter of the following year total 960 units. The selling price is $660 per unit in the first three quarters of the year, and $690 per unit in the final quarter. Company policy calls for a given quarter's...
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