Question

le Edit • View Insert Format Tools Table Window AutoSave Asus Help Document ome Insert Draw Design Layout References Mailings Review View Calibri (Bo. 12 AA Aa Apv v BIV ab X, X ADA Als Paste 1 The following information was obtained from the records of Appleton Corporation during 2018 • Manufacturing Overhead was applied at a rate of 100 percent of direct labor dollars. . Beginning value of inventory follows: • Beginning Work in Process Inventory, $5.000. • Beginning Finished Goods Inventory, $16,000 • During the period, Work in Process Inventory decreased by 20 percent and Finished Goods Inventory increased by 25 percent. • Actual manufacturing overhead costs were $95.000 • Sales were $401,000 • Adjusted Cost of Goods Sold was $313,000. Required: Use the preceding information to find the missing values in the following table: Amount 92,000 5,000 Item Direct Materials Used Direct Labor Manufacturing Overhead Applied Total Current Manufacturing Costs Plus: Beginning Work in Process Inventory Less: Ending Work in Process Inventory Cost of Goods Manufactured Plus: Beginning Finished Goods Inventory Less: Ending Finished Goods Inventory Unadjusted Cost of Goods Sold Overhead Adjustment Adjusted Cost of Goods Sold 16,000 $313.000 150 words DE English (United States) MacBook Pro

Answer 1

Direct Material used	129,000
Direct Labor	92,000
Manufacturing overhead Applied	92,000
Total current Manufacturing costs	313,000
Plus: Beginning WIP Inventory	5,000
Less: Ending WIP Inventory	4,000
Cost of goods manufactured	314,000
Plus: Beginning FG Inventory	16,000
Less: Ending FG Inventory	20,000
Unadjusted COGS	310,000
Overhead Adjustment	3,000
Adjusted COGS	313,000

A B 1 Direct Material used |ЕB4-B2-ВЗ |=B3/100% 92000 2 Direct Labor 3 Manufacturing overhead Applied 4 Total current Manufacturing costs =B7+B6-B5 5 Plus: Beginning WIP Inventory 6 Less: Ending WIP Inventory 7 Cost of goods manufactured 5000 =B5*80% =B10+B9-B8 |16000 8 Plus: Beginning FG Inventory 9 Less: Ending FG Inventory 10 Unadjusted COGS 11 Overhead Adjustment =B8*1.25 =B12-B11 =95000-B3 313000 12 Adjusted COGS