At the end of 2019. Appletree's work in process ledger revealed the following costs:
At the end of 2019. Appletree's work in process ledger revealed the following costs:
Appletree started the year with Job 421 in work in process inventory. Job 421 incurred $60,000 of direct materia cost $20,000 of direct labor cost, and $30,000 of applied overhead cost in 2018. Overhead is applied based on direct labor cost. What were total manufacturing costs incurred by Appletree during 2019?
A. $855,000 B. $580,000 C. $745,000 D. $845,000 E. $955,000
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At the end of 2019. Appletree's work in process ledger revealed the following costs:
apter 21 E2-11 (Algo) Calculating Cost of Jobs in Work in Process, Finished Goods, and Cost...
apter 21 E2-11 (Algo) Calculating Cost of Jobs in Work in Process, Finished Goods, and Cost of Goods Sold [LO 2- Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April Jobs A and B were in process at the beginning of April....
E2-11 (Algo) Calculating Cost of Jobs in Work in Process, Finished Goods, and Cost of Goods...
E2-11 (Algo) Calculating Cost of Jobs in Work in Process, Finished Goods, and Cost of Goods Sold [LO 2- Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A...
Please show the explanations of how you've obtained the answers. Required information [The following information applies...
Please show the explanations of how you've obtained the
answers.
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $83,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $57,000; indirect labor, $26,000; factory rent, $40,000; factory utilities, $20,000; and factory equipment depreciation, $58,000. The predetermined overhead rate is 50% of direct labor cost. Job...
Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. Prepare a...
Reconcile the balance in Work in Process Inventory with the
costs of unfinished jobs. Prepare a cost of goods manufactured
schedule for June.
Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Case Inc. contains the following data. $4,100 $33,800 Raw Materials Inventory Work in Process Inventory Manufacturing Overhead Applied Manufacturing Overhead Incurred $5,675 $28,600 Subsidiary data...
Sunset Inc. Plastics Company uses process costing and provided the following information for 2019: Units Percent...
Sunset Inc. Plastics Company uses process costing and provided the following information for 2019: Units Percent Complete Percent Complete Direct Materials Conversion Costs Work-in-process at January 1 20,000 40% 60% Units started during year 218,000 Work-in-process at December 31 40,000 70% 40% The cost of the beginning work-in-process included $110,750 for direct materials used and $85,350 for direct labor. Production costs during the year were $793,250 for direct materials and $143,935 for direct labor. The company applies manufacturing overhead using...
Work-in-Process Inventory for Carston Inc. at the beginning of the year was a single job, Job T114: Work-in-Process Inv...
Work-in-Process Inventory for Carston Inc. at the beginning of
the year was a single job, Job T114:
Work-in-Process Inventory for Carston Inc. at the beginning of the year was a single job, Job T114: Direct Direct Job # Materials Labor Overhead Total $ 16,250 $ 76,500 $ 31,500 T114 $28,750 The company's budgeted costs for the year are as follows: Budgeted overhead Variable $ 68,000 Indirect materials Indirect labor 56,000 28,000 Employee benefits Fixed Supervision Depreciation 13,000 15,000 $180,000 Total...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Job 102 $16,000 20,000 9,200 Job 103 Job 104 Direct materials $56,000 $60,000 44,000 20,240 Direct labor 30,000 Overhead applied 13,800 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $11,000; direct labor, $3,900; and overhead, $1,794. Jobs 103 and 104 were started in June....
Following is partial information for Delamunte Industries for the month of August: Work In Process Balance,...
Following is partial information for Delamunte Industries for the month of August: Work In Process Balance, August 1 $ 134,000 Direct materials used 114,800 Direct labor 163,000 Manufacturing overhead applied (based on direct labor cost) 152,000 Jobs finished during August are summarized here: Job # Cost of Jobs Completed 234 $ 59,950 237 28,800 231 47,000 246 20,000 Required: At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job...
Following is partial information for Delamunte Industries for the month of August: Work In Process Balance,...
Following is partial information for Delamunte Industries for the month of August: Work In Process Balance, August 1 Direct materials used Direct labor Manufacturing overhead applied $ 128,000 122,800 166,000 151,000 Jobs finished during August are summarized here: Cost of Jobs Job # 234 237 231 246 Completed $71,950 32,800 60,000 27,000 Required At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was...
Custom Cabinetry has one job in process (Job 120) as of June 30, at that time,...
Custom Cabinetry has one job in process (Job 120) as of June 30, at that time, its job cost sheet reports direct materials of $7,700, direct labor of $3,400, and applied overhead of $2,720. Custom Cabinetry applies overhead at the rate of 80% of direct labor cost. During July, Job 120 is sold (on account) for $26,500, Job 121 is started and completed, and Job 122 is started and still in process at the end of the month. Custom Cabinetry...
apter 21 E2-11 (Algo) Calculating Cost of Jobs in Work in Process, Finished Goods, and Cost of Goods Sold [LO 2- Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April Jobs A and B were in process at the beginning of April....
E2-11 (Algo) Calculating Cost of Jobs in Work in Process, Finished Goods, and Cost of Goods Sold [LO 2- Jenkins Company uses a job order cost system with overhead applied to jobs on the basis of direct labor hours. The direct labor rate is $20 per hour, and the predetermined overhead rate is $15 per direct labor hour. The company worked on three jobs during April. Jobs A and B were in process at the beginning of April. Job A...
Please show the explanations of how you've obtained the
answers.
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $83,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $57,000; indirect labor, $26,000; factory rent, $40,000; factory utilities, $20,000; and factory equipment depreciation, $58,000. The predetermined overhead rate is 50% of direct labor cost. Job...
Reconcile the balance in Work in Process Inventory with the
costs of unfinished jobs. Prepare a cost of goods manufactured
schedule for June.
Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Case Inc. contains the following data. $4,100 $33,800 Raw Materials Inventory Work in Process Inventory Manufacturing Overhead Applied Manufacturing Overhead Incurred $5,675 $28,600 Subsidiary data...
Sunset Inc. Plastics Company uses process costing and provided the following information for 2019: Units Percent Complete Percent Complete Direct Materials Conversion Costs Work-in-process at January 1 20,000 40% 60% Units started during year 218,000 Work-in-process at December 31 40,000 70% 40% The cost of the beginning work-in-process included $110,750 for direct materials used and $85,350 for direct labor. Production costs during the year were $793,250 for direct materials and $143,935 for direct labor. The company applies manufacturing overhead using...
Work-in-Process Inventory for Carston Inc. at the beginning of
the year was a single job, Job T114:
Work-in-Process Inventory for Carston Inc. at the beginning of the year was a single job, Job T114: Direct Direct Job # Materials Labor Overhead Total $ 16,250 $ 76,500 $ 31,500 T114 $28,750 The company's budgeted costs for the year are as follows: Budgeted overhead Variable $ 68,000 Indirect materials Indirect labor 56,000 28,000 Employee benefits Fixed Supervision Depreciation 13,000 15,000 $180,000 Total...
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs. Job 102 $16,000 20,000 9,200 Job 103 Job 104 Direct materials $56,000 $60,000 44,000 20,240 Direct labor 30,000 Overhead applied 13,800 Job 102 was started in production in May, and the following costs were assigned to it in May: direct materials, $11,000; direct labor, $3,900; and overhead, $1,794. Jobs 103 and 104 were started in June....
Following is partial information for Delamunte Industries for the month of August: Work In Process Balance, August 1 Direct materials used Direct labor Manufacturing overhead applied $ 128,000 122,800 166,000 151,000 Jobs finished during August are summarized here: Cost of Jobs Job # 234 237 231 246 Completed $71,950 32,800 60,000 27,000 Required At the end of August, only one job, Job 248, was still in process. The direct labor cost incurred on Job 248 as of August 31 was...
Custom Cabinetry has one job in process (Job 120) as of June 30, at that time, its job cost sheet reports direct materials of $7,700, direct labor of $3,400, and applied overhead of $2,720. Custom Cabinetry applies overhead at the rate of 80% of direct labor cost. During July, Job 120 is sold (on account) for $26,500, Job 121 is started and completed, and Job 122 is started and still in process at the end of the month. Custom Cabinetry...
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