Question

E67x for B 100 1 Enter titles and accounts in the e 2Enter Numbers in the blue cells Enter your Calculations in the yellow cells 6 Unit 1 7 Read Chapter 17 Intro To Managerial Acete httpswww.principlesofaccounting.cordmanagerial-cost-accounting 0 Use the following cost information to complete the schedules below for Jackson Company: 1 Advertising Expense 21,275 L Rent expense office 24,725 12 Depreciation office 8.575 Rent expense selling) 27,350 13 Depreciation selling 10,775 Rent expense factory 9 4,975 14 Depreciation factory 37,350 maintenance factory 27,375 15 Factory Supervision 137,250 Sales 5,928,721 16 Factory supplies - use 7,050 Sales salaries 237,950 17 Factory utilities . 35,700 Raw mat beginning 41,375 18 Direct labor . 562,475. . Raw Mat ending 7 2,430 19 Indirect labor 57,000 WIP Beginning 13,550 20 Misc production costs 9,660 WIP Ending 13,350 21 Office salaries 67,350 Fin Goods Beginning 175,250 22 Raw Mat purchases 837,925 Fin Good Ending 152,750 25 Calculate the total overhead costs: Total Problem 1 Problem 2 Problem 3

Answer 1

Total overhead costs:
Dep factory	37350
Fact supervision	137250
Fact supplies used	7050
Indirect lab	57000
Misc Prod costs	9660
Rent factory	94975
Maint. Factory	27375
Total overhead costs	370660
Cost of goods manufactured and sold:
WIP - OB			13550
Direct Material:
OB	41375
add:purchases	837925
total DM avail	879300
Less: CB	72430
DM used		806870
DL USED		562475
Overhead cost		370660
Total Manufacturing cost			1740005
Total Work in Process			1753555
Less:WIP - CB			13350
Cost of goods manufactured			1740205
add:FG - OB			175250
Total FG available for sale			1915455
less:FG - CB			152750
Cost of Goods sold			1762705
Income Statement:
Sales	5928721
COGS	1762705
Gross Profit	4166016
Selling & Admin exp.	398000		(21275+8575+10775+67350+24725+27350+237950)
Operating Income	3768016
Balance Sheet (partial)
Assets:
Current Asset:
Inventory:
Raw mat.	72430
WIP	13350
FG	152750
Total Inven.	238530