minstrel manufacturing uses a job order costing system. during one month, minstrel purchased $216,000 of raw...
minstrel manufacturing uses a job order costing system. during one month, minstrel purchased $216,000 of raw materials on credit; issued materials to production of $210,000 of which $34,500 were indirect. Minstrel incurred a factory payroll of $159,000, of which $44,500 was indirect labor. Minstrel uses a predetermined overhead application rate 150% of direct labor cost. Minstrel's beginning and ending work in process inventory are $17,000 and $30,000 respectively. Compute the cost if product transferred to finished goods inventory:
Homework Answers
Calculate cost of product transferred to finished goods inventory
| Direct material (210000-34500) | 175500 |
| Direct labor (159000-44500) | 114500 |
| Overhead (114500*1.5) | 171750 |
| Total manufacturing cost | 461750 |
| Beginning WIP | 17000 |
| Total cost of work in process | 478750 |
| Less: Ending WIP | -30000 |
| Cost of product transferred to finished goods | 448750 |
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minstrel manufacturing uses a job order costing
system. during one month, minstrel purchased $216,000 of raw...
Part 1 Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $216,000...
Part 1 Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $216,000 of raw materials on credit; issued materials to production of $210,000 of which $34,500 were indirect. Minstrel incurred a factory payroll of $159,000, paid in cash, of which $44,500 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $17,000 and $30,000 respectively. Compute the cost of product transferred...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $206,400 of raw...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $206,400 of raw materials on credit; issued materials to production of $202,000 of which $32,100 were indirect. Minstrel incurred a factory payroll of $154,200, of which $42,100 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $16,200 and $28,400 respectively. Compute the cost of product transferred to Finished Goods Inventory:
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $728.000 of raw...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $728.000 of raw materials on credit; issued materials to production of $220,000 of which $37,500 were indirect. Minstrel incurred a factory payroll of $165,000, of which $47,500 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $18,000 and $32,000 respectively. Compute the cost ofjabs transferred to Finished Goods Inventory Multiple Choice...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $206,400 of raw...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $206,400 of raw materials on credit: Issued materials to production of $20,000 of which $32,100 were Indirect. Minstrel incurred a factory payroll of $154,200, of which $42,100 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $16,200 and $28,400 respectively, Compute the cost of jobs transferred to Finished Goods Inventory. Multiple...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the issuance of materials to production is: Multiple Choice Debit Raw Materials Inventory $195,000; credit Accounts Payable $195,000. Debit Work...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the išsuance of materials to production is: Multiple Choice Debit Work in Process Inventory $195,000; credit Row Materials Inventory $195,000....
Minstrel manufacturing uses a job order costing system. During one month, minstrel purchased $198,000 of raw...
Minstrel manufacturing uses a job order costing system. During one month, minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead of 150% of direct labor costs. the journal entry to record the factory payroll is:
Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw...
Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 we indirect. Minstrel incurred a factory payroll of $150,000, paid in cash, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the purchase of materials is: o Debit Raw Materials Inventory $198,000; credit Accounts Payable $198,000. o Debit...
Minstrel Manufacturing uses a job order costing system.During one month Minstrel purchased $198,000 of raw materials...
Minstrel Manufacturing uses a job order costing system.During one month Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the application of factory overhead to production is:
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $208,000 of raw...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $208,000 of raw materials on credit; issued materials to production of $205,000 of which $20,000 were indirect. Minstrel incurred a factory payroll of $160,000, of which $30,000 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. If Minstrel incurred total overhead costs of $189,000 during the month, compute the amount of under-or overapplied overhead: Multiple Choice Ο O $6,000 underapplied....
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $728.000 of raw materials on credit; issued materials to production of $220,000 of which $37,500 were indirect. Minstrel incurred a factory payroll of $165,000, of which $47,500 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $18,000 and $32,000 respectively. Compute the cost ofjabs transferred to Finished Goods Inventory Multiple Choice...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $206,400 of raw materials on credit: Issued materials to production of $20,000 of which $32,100 were Indirect. Minstrel incurred a factory payroll of $154,200, of which $42,100 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $16,200 and $28,400 respectively, Compute the cost of jobs transferred to Finished Goods Inventory. Multiple...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the išsuance of materials to production is: Multiple Choice Debit Work in Process Inventory $195,000; credit Row Materials Inventory $195,000....
Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 we indirect. Minstrel incurred a factory payroll of $150,000, paid in cash, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the purchase of materials is: o Debit Raw Materials Inventory $198,000; credit Accounts Payable $198,000. o Debit...
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $208,000 of raw materials on credit; issued materials to production of $205,000 of which $20,000 were indirect. Minstrel incurred a factory payroll of $160,000, of which $30,000 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. If Minstrel incurred total overhead costs of $189,000 during the month, compute the amount of under-or overapplied overhead: Multiple Choice Ο O $6,000 underapplied....
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