Question

The following information applies to the O'Donnell Company for March production. There are only two jobs (X and Y) in production in March a. Purchased direct materials and indirect materials with the following summary of receiving reports: Material A Material B Indirect materials Total $ 22,000 15,000 6,000 $ 43,000 b. Issued direct materials and indirect materials with this summary of requisitions: Material A Material B Subtotal Indirect materials Total Job X $ 9,200 4,200 $ 13,400 Job Y $ 18,400 9,200 $ 27,600 Total $ 27,600 13,400 $ 41,000 42,000 $ 83,000 c. Factory labor incurred is summarized by these time tickets: Job X Job Y Indirect labor Total $ 24,400 16,200 31,000 $ 71,600 d. Factory utilities, factory depreciation, and factory insurance incurred is summarized as follows:

Answer 1

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Part 1
		Job X	Job Y
Direct Material		$      13,400	$   27,600
Direct Labor		$      24,400	$   16,200
Applied Overheads		$      57,200	$   41,600
1,100*$52
800*$52
Total Manufacturing Cost		$      95,000	$   85,400
Part 2
Actual Overheads:
Indirect Material		$      42,000
Indirect Labor		$      31,000
Utilities		$        4,200
Depreciation		$      20,400
Insurance		$        3,700
Actual Overheads		$   101,300
Applied Overheads		$      98,800
($57,200+$41,600)
Under applied overheads		$        2,500
Cost of goods sold will be increased by $2,500