Question

The following information is also available for 2020: (Click the icon to view the additional information.) Huckvale Corporation manufactures custom cabinets for kitchens. It uses a normal-costing system with two direct cost categories—direct materials and direct manufacturing labor-and go indirect control manufacturing cuachand costs. It provi (Click the i Data Table X ons are not Present the required.) $ 40,000 59,000 $ $ 2,000 $ (a) $ Actual direct materials used Actual direct manufacturing labor costs paid in cash Indirect materials used Supervision and engineering salaries paid in cash Plant utilities and repairs paid in cash Plant depreciation Actual direct manufacturing labor-hours Cost of individual jobs completed and transferred to finished goods Cost of goods sold 47,000 15,000 13,000 2,200 $ Present the 150,000 135,000 $ Print Done (b) Bob rt A in the input fields and then continue to the next question.

Answer 1

Overhead rate = $875000 / 35000 = $25 per hour

Account Titles	Debit	Credit
Work in Process Inventory	$        40,000
Manufacturing Overhead	$          2,000
Raw Material Inventory		$        42,000
Work in Process Inventory	$        59,000
Cash		$        59,000
Manufacturing Overhead	$        75,000
Cash		$        62,000
Accumulated Depreciation		$        13,000
Work in Process Inventory	$        55,000
Manufacturing Overhead		$        55,000
Finished Goods Inventory
Work in Process Inventory	$      150,000
		$      150,000
Cost of Goods Sold	$      135,000
Finished Goods Inventory		$      135,000

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