PS 400 DC 48 After Class Practice 4-2 (2 HW grades) Simpson Office Furniture worked on...

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PS 400 DC 48 After Class Practice 4-2 (2 HW grades) Simpson Office Furniture worked on the following jobs in December: AC 130

F. Calculate the over/under applied OH. Prepare the journal entry to dispose of it. G. Enter the information above into the f

business accounting

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Answer 1

Answer #1

A.

	AC 130	BD 75	PS 400	DC 48
Beginning inventory	900000	431000	250000	0
Costs added in December:
Materials	155000	13800	211000	252000
Direct labor cost	122400	43200	200500	138000
Applied overhead*	60000	22000	97500	70000
Total cost incurred in December	337400	79000	509000	460000
Total cost $	1237400	510000	759000	460000

*Applied overhead:

Overhead rate = $100000/20000 MH = $5 per machine hour

B.

Jobs in COGM	Cost
AC 130	1237400
BD 75	510000
DC 48	460000
Cost of goods manufactured for December $	2207400

C.

Work in Process:	November 30	December 31
AC 130	900000
BD 75	431000
PS 400	250000	759000
Total work in process $	1581000	759000

D.

Jobs	Cost
AC 130	337400
BD 75	79000
PS 400	509000
DC 48	460000
Total manufacturing costs for December $	1385400

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PS 400 DC 48 After Class Practice 4-2 (2 HW grades) Simpson Office Furniture worked on...

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