Wayland Manufacturing uses a normal cost system and had the following data available for 2010: Direct...
- Wayland Manufacturing uses a normal cost system and had the
following data available for 2010:
Direct materials purchased on account $148,000
Direct materials requisitioned 82,000
Direct labor cost incurred 130,000
Factory overhead
incurred
146,000
Cost of goods
completed
292,000
Cost of goods
sold
256,000
Beginning direct materials
inventory
26,000
Beginning WIP
inventory
64,000
Beginning finished goods
inventory
58,000
Overhead application rate, as a
percent of direct-labor
costs
125%
The ending balance of direct materials inventory is_____?
- $82,000
- $108,000
- $174,000
- $92,000
- None of the above
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Wayland Manufacturing uses a normal cost system and had the
following data available for 2010:
Direct...
viana Manufacturing uses a normal cost system and had the following data available for 2018 Direct...
viana Manufacturing uses a normal cost system and had the following data available for 2018 Direct materials purchased on account $ 75,000 Direct materials requisitioned 45,000 Direct labor cost incurred 70,000 Factory overhead incurred Cost of goods completed Cost of goods sold 90,000 150,000 130,000 Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct-labor costs 15,000 32,000 29,000 110 percent 1. Prepare all journal entries needs for 2018 2. Prepare...
8. River Falls Manufacturing uses a normal cost system and had the following data available for...
8. River Falls Manufacturing uses a normal cost system and had the following data available for 2018: Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred $150,000 84,000 125,000 Factory overhead incurred Cost of goods completed Cost of goods sold 146,000 288,000 258,000 Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct-labor costs 25,000 69,000 51,000 120 percent Prepare the necessary journal entries for the above transactions....
8. River Falls Manufacturing uses a normal cost system and had the following data available for...
8. River Falls Manufacturing uses a normal cost system and had the following data available for 2018: Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred $150,000 84,000 125,000 Factory overhead incurred Cost of goods completed Cost of goods sold 146,000 288,000 258,000 Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct-labor costs 25,000 69,000 51,000 120 percent Prepare the necessary journal entries for the above transactions....
River falls Manufacturing uses a normal cost system and had the following data available for 2018....
River falls Manufacturing uses a normal cost system and had the following data available for 2018. direct material purchased on accident 152,000 direct materials requisitioned 87,000 Direct labor cost incurred 126,000. Factory overhead incurred 144,000 cost of goods completed 287,000. Cost of goods sold 253,000 Beginning direct materials inventory 30,000 beginning WIP inventory 70,000 Beginning finished goods inventory 52,000 Overhead application rate ,as a percent of direct -labor costs 135 percent The ending balance of finished goods inventory is
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost...
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct - labor costs $152,000 85,000 127,000 148,000 286.000 259,000 35,000 65,000 53,000 140 percent The ending balance of work-in-process inventory is O A. $413,000 O B. $454,800 OC. $168,800 OD. $127,000
A company’s overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine...
A company’s overhead rate is 200% of direct labor cost. Using
the following incomplete accounts, determine the cost of direct
materials used.
Saved Help Save & Exit Subr A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Work in Process Inventory 58,000 Beginning WIP Direct Materials Direct Labor Applied Overhead To Finished Goods Ending WIP 148,000 68,000 Factory Overhead 146,000 Finished Goods Inventory 48,000 273,000 43,000 Beginning...
Using the following accounts and a predetermined overhead rate of 60% of direct labor cost, determine...
Using the following accounts and a predetermined overhead rate of 60% of direct labor cost, determine the amount of applied overhead. Beginning WIP Direct materials Direct labor Applied overhead To finished goods Ending WIP Work in Process Inventory 23,200 69,600 ? ? Beginning FG 47,640 Finished Goods Inventory 6,400 147,560 Ending FG Multiple Choice $64,000. $58,000 $45,160. $102,400. $38,400.
Assignment 11A - Problem 1 A manufacturing company uses direct labor hours as the basis for...
Assignment 11A - Problem 1 A manufacturing company uses direct labor hours as the basis for the predetermined manufacturing overhead rate. Amounts and transactions for the year are as follows: $500,000 100,000 Estimated total manufacturing overhead Estimated total direct labor hours 40,000 Estimated total machine hours Actual total manufacturing overhead incurred (not paid) Actual direct labor costs incurred (not paid) Actual total direct labor hours $467,000 $805,000 89,405 2 3 4 39,100 Actual total machine hours Raw materials purchased on...
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1)A manufacturer's cost of goods manufactured is the sum of direct materials, direct labor, and factory overhead costs incurred in producing products. True or False 2) Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,500 of direct materials and used $3,000 of direct labor. The job was not finished by the end of September, but needed an additional $2,000 of direct materials and additional direct labor of $4,500 to finish...
Verrett Corporation is a manufacturer that uses job-order costing. The company has supplied the following data...
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viana Manufacturing uses a normal cost system and had the following data available for 2018 Direct materials purchased on account $ 75,000 Direct materials requisitioned 45,000 Direct labor cost incurred 70,000 Factory overhead incurred Cost of goods completed Cost of goods sold 90,000 150,000 130,000 Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct-labor costs 15,000 32,000 29,000 110 percent 1. Prepare all journal entries needs for 2018 2. Prepare...
8. River Falls Manufacturing uses a normal cost system and had the following data available for 2018: Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred $150,000 84,000 125,000 Factory overhead incurred Cost of goods completed Cost of goods sold 146,000 288,000 258,000 Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct-labor costs 25,000 69,000 51,000 120 percent Prepare the necessary journal entries for the above transactions....
8. River Falls Manufacturing uses a normal cost system and had the following data available for 2018: Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred $150,000 84,000 125,000 Factory overhead incurred Cost of goods completed Cost of goods sold 146,000 288,000 258,000 Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct-labor costs 25,000 69,000 51,000 120 percent Prepare the necessary journal entries for the above transactions....
Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of direct - labor costs $152,000 85,000 127,000 148,000 286.000 259,000 35,000 65,000 53,000 140 percent The ending balance of work-in-process inventory is O A. $413,000 O B. $454,800 OC. $168,800 OD. $127,000
A company’s overhead rate is 200% of direct labor cost. Using
the following incomplete accounts, determine the cost of direct
materials used.
Saved Help Save & Exit Subr A company's overhead rate is 200% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. Work in Process Inventory 58,000 Beginning WIP Direct Materials Direct Labor Applied Overhead To Finished Goods Ending WIP 148,000 68,000 Factory Overhead 146,000 Finished Goods Inventory 48,000 273,000 43,000 Beginning...
Using the following accounts and a predetermined overhead rate of 60% of direct labor cost, determine the amount of applied overhead. Beginning WIP Direct materials Direct labor Applied overhead To finished goods Ending WIP Work in Process Inventory 23,200 69,600 ? ? Beginning FG 47,640 Finished Goods Inventory 6,400 147,560 Ending FG Multiple Choice $64,000. $58,000 $45,160. $102,400. $38,400.
Assignment 11A - Problem 1 A manufacturing company uses direct labor hours as the basis for the predetermined manufacturing overhead rate. Amounts and transactions for the year are as follows: $500,000 100,000 Estimated total manufacturing overhead Estimated total direct labor hours 40,000 Estimated total machine hours Actual total manufacturing overhead incurred (not paid) Actual direct labor costs incurred (not paid) Actual total direct labor hours $467,000 $805,000 89,405 2 3 4 39,100 Actual total machine hours Raw materials purchased on...
Verrett Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: $ 475,000 $ 476,000 $ 640,000 Raw materials purchased on account Raw materials (all direct) requisitioned for use in production Direct labor cost Manufacturing overhead: Indirect labor cost Other manufacturing overhead costs incurred Cost of goods manufactured Cost of goods sold (unadjusted) $ 174,000 $ 498,000 $1,469,000 $1,430,000 What is the journal entry to record the direct and indirect...
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