![Exercise 5-13 Applying Overhead; Journal Entries; Disposition of Underapplied or Overapplied Overhead [L04, LO5, LO7] The fol](http://img.homeworklib.com/questions/3021c560-7538-11ea-bd6d-5d24592cd28a.png?x-oss-process=image/resize,w_560)
Homework Answers
| 1 | ||||
| a | Actual manufacturing overhead costs for the year. | |||
| b | Overhead cost applied to work in process for the year. | |||
| c | Cost of goods manufactured for the year. | |||
| d | Cost of goods sold for the year. | |||
| 2 | ||||
| Debit | Credit | |||
| Manufacturing overhead | 42000 | |||
| Work in process | 4200 | =42000/470000*47000 | ||
| Finished goods | 6300 | =42000/470000*70500 | ||
| Cost of goods sold | 31500 | =42000/470000*352500 | ||
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Exercise 5-13 Applying Overhead; Journal Entries; Disposition of Underapplied or Overapplied Overhead [L04, LO5, LO7] The...
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4 Exercise 3-8 Applying Overhead; Journal Entries; Disposing of Underapplied or Overapplied Overhead [LO3-1, LO3-2, LO3-4)...
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The following information is taken from the accounts of Foster Corp. The entries in the T-accounts...
The following information is taken from the accounts of Foster
Corp. The entries in the T-accounts are summaries of the
transactions that affected those accounts during the year.
Manufacturing Overhead
(a)
456,000
(b)
505,000
Bal.
49,000
Work in Progress
Bal.
124,000
(c)
855,000
229,000
134,000
(b)
505,000
Bal.
137,000
Finished Goods
Bal.
188,500
(d)
905,500
(c)
855,000
Bal.
138,000
Cost of Goods Sold
(d)
905,500
The overhead applied to production...
The following information is taken from the accounts of Foster Corp. The entries in the T-accounts...
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Exercise 3-8 Applying Overhead; Journal Entries; Disposing of Underapplied or Overapplied Overhead [L03-1, LO3-2, LO3-4) The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead Work in Process Finished Goods (a) 499,968 (b) 416,640 Bal. 5,36 (c) 778,000 Bal. 33,000 (d) 674,000 Bal. 83,328 319,500 (c) 778,000 93,500 Bal. 137,000 (b) 416,640 Bal. 57,000 Cost of Goods Sold 674,000 The...
4 Exercise 3-8 Applying Overhead; Journal Entries; Disposing of Underapplied or Overapplied Overhead [LO3-1, LO3-2, LO3-4) 2 points The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead 499,968 (b) 416,640 Bal. 83,328 Bal. eBook Work in Process 5,360(e) 778,000 319,500 93,500 416,640 57,000 Bal. (c) Bal. Finished Goods 33,000 (d) 674,000 778,000 137,000 (b) Bal. Print (d) ) Cost...
Heip Exercise 3-8 Applying Overhead; Journal Entries; Disposing of Underapplied or Overapplied Overhead [LO3-1, LO3-2, LO3-4] The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead 481,536 (b) 80,256 Work in Process 12,720 (c) 291,500 89,500 401, 280 49,000 Finished Goods 41,000 (d) 746, e00 129, 000 (a) 401,280 Bal. Bal. (c) 746,000 658, 000 Bal. Bal. (b) Bal. Cost...
The following information is taken from the accounts of Foster
Corp. The entries in the T-accounts are summaries of the
transactions that affected those accounts during the year.
Manufacturing Overhead
(a)
456,000
(b)
505,000
Bal.
49,000
Work in Progress
Bal.
124,000
(c)
855,000
229,000
134,000
(b)
505,000
Bal.
137,000
Finished Goods
Bal.
188,500
(d)
905,500
(c)
855,000
Bal.
138,000
Cost of Goods Sold
(d)
905,500
The overhead applied to production...
The following information is taken from the accounts of Foster Corp. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead (a) 392,000 (b) 425,000 Bal. 33, 000 Work in Progress Bal. 775,000 108,000 213,000 118,000 425,000 (b) Bal. 89,000 Finished Goods Bal. (c) 833, 500 164, 500 775,000 (d) Bal. 106,000 Cost of Goods Sold (d) 833, 500 The overhead applied to production during the year is distributed among the...
Exercise 3-8 Applying Overhead; Journal Entries; Disposing of Underapplied or Overapplied Overhead [LO3-1, LO3-2, LO3-4] The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead (a) 460,000 (b) 390,000 Bal. 70,000 Bal. Work in Process 15,000 (c) 710,000 260,000 85,000 390,000 40,000 Bal. (c) Bal. Finished Goods 50,000(d) 640,000 710,000 120,000 (b) Bal. Cost of Goods Sold 640,000 (d) The...
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