Question

Raw materials purchased $                    850 Beginning raw materials            &nbs

Raw materials purchased

$                    850

Beginning raw materials

                           40

Direct materials used

                        750

Indirect materials requested

                           30

Indirect labor

                        100

Utilities - administration area

                           90

Utilities - factory area

                        200

Rent - adminstration

                        100

Rent - factory

                        200

Taxes - administration

                        200

Taxes - factory

                        500

Other - factory

                        500

Other manufacturing overhead actual

                           75

Direct labor

                        250

Manufacturing overhead applied at 150% of direct costs

125%

Beginning WIP

                        250

Ending WIP

                        125

Beginning finished good

                           20

Ending finished goods

                           15

prepare a schedule of costs of good manufactured.

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Answer #1
Schedule of Cost of Goods manufactured
Direct Materials $             750
Direct Labor $             250
Manufacturing Overhead Applied $          1,500
Total Manufacturing Costs incurred $          2,500
Add : Beginning Work in Process Inventory $             250
Total Manufacturing Costs $          2,750
Deduct: Ending Work in Process Inventory $             125
Cost of Goods Manufactured $          2,625


Manufacturing Overhead applied = ($750+250) x 150% = $1500
Manufacturing overhead is applied at 150%, but it is not clear what is 125% about

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