1. What is the total manufacturing cost added to Work in Process during the year?
2. What is the journal entry to record the transfer of completed jobs that is referred to in item g above?
Record the manufactured goods completed during this year.
3. What is the ending balance in Work in Process?
4. What is the total amount of actual manufacturing overhead cost incurred during the year?
5. Is manufacturing overhead underapplied or overapplied for the year? By how much?
6. What is the cost of goods available for sale during the year?
7. What is the journal entry to record the cost of goods sold referred to in item h above?
Record the cost of goods sold to the customer.
8. What is the ending balance in Finished Goods?
9. Assuming that the company closes its underapplied or overapplied overhead to Cost of Goods Sold, what is the adjusted cost of goods sold for the year?
10. What is the gross margin for the year?
11. What is the net operating income for the year?
1) Total manufacturing cost added to WIP = 655400+430000+(41000*12) = 1577400
2) Journal entry
No | General Journal | Debit | Credit |
Finished goods | 1521800 | ||
Work in process | 1521800 | ||
3) Ending WIP = 30800+1577400-1521800 = 86400
4) Actual manufacturing overhead = 150000+330000 = 480000
Note: Pls post whole que in the group of 4-4 sub parts as per HOMEWORKLIB RULES
1. What is the total manufacturing cost added to Work in Process during the year? 2....
5. What is the total manufacturing cost added to Work in Process during the year? 6. What is the journal entry to record the transfer of completed jobs that is referred to in item g above? 7. What is the ending balance in Work in Process? 8. What is the total amount of actual manufacturing overhead cost incurred during the year? Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows:...
1. What is the ending balance in Work in Process? 2. Is manufacturing overhead underapplied or overapplied for the year? By how much? 3. What is the cost of goods available for sale during the year? 4. What is the journal entry to record the cost of goods sold referred to in item h above? Record the cost of goods sold to the customer. 5. What is the ending balance in Finished Goods? 6. Assuming that the company closes its underapplied...
9. Is manufacturing overhead underapplied or overapplied for the year? By how much? 10. What is the cost of goods available for sale during the year? 11. What is the journal entry to record the cost of goods sold referred to in item h above? 12. What is the ending balance in Finished Goods? Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials Work in process Finished goods...
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