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Answer:- a. 1,480,000
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d. $1,260,000. 17. Haight Company incurred direct materials costs of $1,000,000 during the ves rials costs...
A Company incurred direct materials costs of $85000 during the year. Manufacturing overhead applied was $80000...
A Company incurred direct materials costs of $85000 during the
year. Manufacturing overhead applied was $80000 and is applied
based on direct labor costs. The predetermined overhead rate is
80%. How much are the Company’s total manufacturing costs for the
year?
X Your answer is incorrect. Swifty Company incurred direct materials costs of $85000 during the year. Manufacturing overhead applied was $80000 and is applied based on direct labour costs. The predetermined overhead rate is 80%. How much are Swifty...
During the current year, James Company incurred the following product costs: Direct materials used in production...
During the current year, James Company incurred the following product costs: Direct materials used in production $257,000 Direct labor $124,500 Manufacturing overhead $184,000 James Company's beginning Work in Process Inventory was $16,000 and its ending Work in Process Inventory amounted to $28,000. What is the company's cost of finished goods manufactured for the year? Multiple Choice $577,500. $553,500. $308,500. $581,500.
During its first year of operations, Brown Company incurred the following product costs: Direct materials used...
During its first year of operations, Brown Company incurred the following product costs: Direct materials used in production $168,000 Direct labor $89,400 Manufacturing overhead $96,900 The Brown Company's ending Work in Process Inventory amounted to $32,000 at the end of the year. What is the company's cost of finished goods manufactured for the year? Multiple Choice $257,400. $168,000. $354,300. $322,300.
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for the year had $20,000 of direct labor costs, determine the inventory's direct materials costs.
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the...
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current year. Indirect labor amounted to $2,700 while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process Inventory began the year with a $5,500 balance and ended the year with...
During its first year of operations, Brown Company incurred the following product costs: Direct materials used...
During its first year of operations, Brown Company incurred the following product costs: Direct materials used in production $200,000; Direct labor $175,000; and Manufacturing overhead $145,500. The Brown Company's ending Work in Process Inventory amounted to $35,000 at the end of the year. What is the company's cost of finished goods manufactured for the year? a. $375,000 b. $200,000 c. $485,500 d. $520,500 2. Within the relevant range, fixed costs: a. Remain steady when sales volume changes. b. Rise as...
(c) (d) Record the purchase of raw materials, the factory labor costs incurred, and the manufacturing...
(c) (d) Record the purchase of raw materials, the factory labor costs incurred, and the manufacturing overhead costs incurred during the month of January. Record the assignment of direct materials, direct labor, and manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in (a). Post all costs to the job cost sheets as necessary Total the job cost sheets for any job(s) completed during the month. Record the completion of any job(s) during the...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during 2017: direct materials costs, $780,000; direct labor costs, $4,300,000; and factory overhead costs applied, $2,150,000. 1. Determine the company's predetermined overhead rate for 2017 2. Assuming that the company's $84,000 ending Work in Process Inventory account for 2017 had $33,000 of direct labor costs, determine the inventory's direct materials costs. 3. Assuming that the company's $620,000 ending Finished Goods Inventory account for 2017...
VES Conrad Company calculated a predetermined manufacturing overhead rate of $20 per direct labor hour. During...
VES Conrad Company calculated a predetermined manufacturing overhead rate of $20 per direct labor hour. During the year, Conrad actually incurred 290,000 in total manufacturing overhead and used 10,000 direct labor hours. Determine the amount of over or under allocated overhead for the year. (Hint: You must first calculate the amount of allocated overhead during the year.) If UNDERALLOCATED, enter your answer as a negative (example: -34,000) Do not use $ in your answer.
During the year, a company purchased raw materials of $77,322, and incurred direct labor costs of...
During the year, a company purchased raw materials of $77,322, and incurred direct labor costs of $126,100. Overhead is applied at the rate of 70% of the direct labor cost. The are the inventory balances: Beginning Ending Raw materials inventory $17,435 $16,428 Work in process inventory 241,438 234,425 Finished goods Inventory 312.842 342,386 Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold. Cost of materials used in productions Cost of...
A Company incurred direct materials costs of $85000 during the
year. Manufacturing overhead applied was $80000 and is applied
based on direct labor costs. The predetermined overhead rate is
80%. How much are the Company’s total manufacturing costs for the
year?
X Your answer is incorrect. Swifty Company incurred direct materials costs of $85000 during the year. Manufacturing overhead applied was $80000 and is applied based on direct labour costs. The predetermined overhead rate is 80%. How much are Swifty...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during the year: direct materials costs, $650,000; direct labor costs, $3,000,000; and factory overhead costs applied, $1,800,000. 1. Determine the company's predetermined overhead rate for the year. 2. Assuming that the company's $71,000 ending Work in Process Inventory account for the year had $20,000 of direct labor costs, determine the inventory's direct materials costs.
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current year. Indirect labor amounted to $2,700 while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process Inventory began the year with a $5,500 balance and ended the year with...
(c) (d) Record the purchase of raw materials, the factory labor costs incurred, and the manufacturing overhead costs incurred during the month of January. Record the assignment of direct materials, direct labor, and manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in (a). Post all costs to the job cost sheets as necessary Total the job cost sheets for any job(s) completed during the month. Record the completion of any job(s) during the...
Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred the following costs during 2017: direct materials costs, $780,000; direct labor costs, $4,300,000; and factory overhead costs applied, $2,150,000. 1. Determine the company's predetermined overhead rate for 2017 2. Assuming that the company's $84,000 ending Work in Process Inventory account for 2017 had $33,000 of direct labor costs, determine the inventory's direct materials costs. 3. Assuming that the company's $620,000 ending Finished Goods Inventory account for 2017...
VES Conrad Company calculated a predetermined manufacturing overhead rate of $20 per direct labor hour. During the year, Conrad actually incurred 290,000 in total manufacturing overhead and used 10,000 direct labor hours. Determine the amount of over or under allocated overhead for the year. (Hint: You must first calculate the amount of allocated overhead during the year.) If UNDERALLOCATED, enter your answer as a negative (example: -34,000) Do not use $ in your answer.
During the year, a company purchased raw materials of $77,322, and incurred direct labor costs of $126,100. Overhead is applied at the rate of 70% of the direct labor cost. The are the inventory balances: Beginning Ending Raw materials inventory $17,435 $16,428 Work in process inventory 241,438 234,425 Finished goods Inventory 312.842 342,386 Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold. Cost of materials used in productions Cost of...
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