I do not know how to do 7b. Question 1-7a are listed below. Thank you!!!
Question: Cole Company uses normal costing in its job-costing system. Partially completed T-accounts and additional information for Cole for 2020 are as follow:
Homework Answers
Account Balances before Proration
| Account | Account Balance (Before Proration) | Proration | Account Balance (After Proration) |
| Work in Process | $ 165,930 | $ 9,720 | $ 175,650 |
| Finished Goods | $ 55,310 | $ 3,240 | $ 58,550 |
| Cost of Goods Sold | $ 884,960 | $ 51,840 | $ 936,800 |
| Totals | $ 1,106,200 | $ 64,800 | $ 1,171,000 |
Proration Calculations
Work in Process = 64800 / 1106200 x 165930
Finished Goods = 64800 / 1106200 x 55310
Cost of Goods sold = 64800 / 1106200 x 884960
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I do not know how to do 7b. Question 1-7a are listed
below. Thank you!!!
Question:...
need help with requirements 4-9 Southwick Company uses normal costing in its job-costing system. Partially completed...
need help with requirements 4-9
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Budgeted manufacturing overhead cost
$157,500
Budgeted direct manufacturing labor cost
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Actual manufacturing overhead cost
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Actual direct manufacturing labor cost
$250,000
Inventory balances on December 31, 2020 were:
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Work in Process
$70,000
3,000
Finished Goods
$235,000
7,500
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need help with requirements 4-9
Southwick Company uses normal costing in its job-costing system. Partially completed T-accounts and additional information for Southwick for 2017 are as follow (Click the icon to view the T-accounts ) (Click the icon to view the additional information) Read the requirements Requirement 1. What was the amount of direct materials issued to production during 2017? Direct materials issued to production during 2017 was $ 237,000 Requirement 2. What was the amount of manufacturing overhead allocated...
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CAN YOU HELP WITH 7-9 PLEASE 1-6 HAVE BEEN ANSWERED
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Southwick Company uses normal costing in its job-costing system. Partialy completed T-accounts and additional information for Southwick for 2017 are as follows. Requirement 1. What was the amount of direct materials issued to production during 2017?Direct materials issued to production during 2017 was _______ 1. What was the amount of direct materials issued to production during 2017 ?2. What was the amount of manufacturing overhead allocated to jobs during 2017 ?3. What was the total cost of jobs completed during 2017 ?4....
Bluethorn Company uses normal costing in its job-costing system. Partially completed T-accounts and additional information for Bluethorn for 2017 are as follows: F: (Click the icon to view the T-accounts.) i (Click the icon to view the additional information.) Read the requirements. Requirement 1. What was the amount of direct materials issued to production during 2017? More Info Direct materials issued to production during 2017 was $ T-accounts a. Direct manufacturing labor wage rate was $12 per hour. b. Manufacturing...
The Wamth Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machine-hours as the cost-allocation base. The following data are for 2017: (Click the icon to view the following data.) Read the requirements. i Data Table X Requirements Budgeted manufacturing overhead costs $ 4,900,000 Overhead allocation base Machine-hours Budgeted machine-hours 70,000 Manufacturing overhead costs incurred $ 5,100,000 Actual machine-hours 65,000 Machine-hours data and the ending balances (before proration of under-or overallocated overhead) are as follows:...
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Budgeted manufacturing overhead cost
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Budgeted direct manufacturing labor cost
$225,000
Actual manufacturing overhead cost
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Actual direct manufacturing labor cost
$250,000
Inventory balances on December 31, 2020 were:
Account
Ending Balance
2020 Direct Labor Hours used in ending balance
Work in Process
$70,000
3,000
Finished Goods
$235,000
7,500
Cost of Goods...
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