Manufacturing overhead Allocated |
/ |
Manufacurting Overhead rate |
= |
Direct Manufacurting labor Costs |
|||
$ 3,700,000 | / | 200% | = | $ 1,850,000 | |||
(a) | The direct manufacturing labor Costs in 2020 is | $ 1,850,000 | |||||
Total Maufacturing Cost | (-) | (Direct Manufacurting labor Costs | + | Manufacturing overhead Allocated ) | = | Direct Material Used | |
$ 8,050,000 | (-) | ( $ 1,850,000 | + | $ 3,700,000 ) | = | $ 2,500,000 | |
(b) | Cost of Direct materials Used | $ 2,500,000 | |||||
(c ) | Work in Process - 1 / 1 /2020 | (+) | Total Maufacturing Cost | (-) | Cost of Finished Goods manufactured | = |
Work in Process 12/31/2020 |
$ 400,000 | (+) | $ 8,050,000 | (-) | $ 8,020,000 | = | $ 430,000 | |
Ending Work in Process | $ 430,000 |
Folders the line below are the Inbox 31 du/coronavirus-covid:19 Drafts 1 Garlick Manufacturing uses normal costing...
Gatti Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost category (manufacturing overhead). The following information is obtained for 2017: (Click the icon to view the data.) Requirements 1. Use information in the first two bullet points to calculate (a) direct manufacturing labor costs in 2017 and (b) cost of direct materials used in 2017. Calculate the ending work-in-process inventory on December 31, 2017 Requirement 1. Use...
Gatti Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost category (manufacturing overhead). The following information is obtained for 2017: Total manufacturing costs, $ 8,100,000$ times • Manufacturing overhead allocated, $3,600,000(allocated at a rate of 250% of direct manufacturing labor costs) times • Work-in-process inventory on January 2017,$400,000 times • Cost of finished goods manufactured, $8,040,000 1. Use information in the first two bullet points to calculate...
Gardi Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost category (manufacturing overhead). The following information is obtained for 2017.-Total manufacturing costs, $8,350,000- Manufacturing overhead allocated, $4,100,000 (allocated at rate of $250% of direct manufacturing labor costs)- Work in process inventory on January 1, 2017, $350,000- Cost of finished goods manufactured, $7,949,0001. Use information in the first to bullet points to calculate (a) direct manufacturing labor costs...
Huckvale Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct cost categories direct materials and direct manufacturing laborand one Indirect cost pool, manufacturing overhead costs. It provides the following information about manufacturing overhead costs for 2020 (Click the icon to view the manufacturing overhead cost information for 2020.) The following information is available as of December 31, 2020 (Click the icon to view the information.) Requirement Calculate the underallocated or overallocated manufacturing overhead at...
1) Orpa Company produces non-motorized boats. Orpa uses a normal costing system and allocates manufacturing overhead costs using direct labor cost. The following data is for 2020: Budgeted manufacturing overhead cost $157,500 Budgeted direct manufacturing labor cost $225,000 Actual manufacturing overhead cost $172,000 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...
Macy Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct cont categories direct materials and direct manufacturing labor and one indirect cost pool, manufacturing overhead costs. It provides the following information for April 2020 Click the icon to view the information for 2020) The following information is also available for 2020 (Click the icon to view the additional information) Read the requirement Data Table Data Table s $ 1,295,000 $ Budgeted manufacturing overhead costs...
Global Manufacturing Inc. uses normal costing during the year to allocate manufacturing overhead to jobs in a job costing system. At year end, it uses the adjusted allocation rate approach to account for underallocated or overallocated overhead. During 2020, Global's manufacturing overhead was underallocated by 10%. Job 117 had the following costs: Direct materials $ 1,500 Direct labor $ 3,300 Manufacturing overhead allocated $ 1,600 Which of the following would be the after adjustment cost of Job 1177 O A....
The Luke Company uses a normal job-costing systern at its Minneapolis plant. The plant has a machining department and an asserbly department. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and two manufacturing overhead cost pools (the machining department overhead, allocated to jobs based on actual machine-hours, and the assembly department overhead, allocated to jobs based on actual direct manufacturing labor costs). The 2017 budget for the plant is as follows: (Click the icon to...
Janes Corporation manufacturos custom cabinets for kitchens. It uses a normal-costing system with two direct-cost categories direct materials and direct manufacturing laborand one indirect-cost pool, manufacturing overhead costs. It provides the following information for 2020: (Click the icon to view the information for 2020.) Read the requirement. Begin by calculating allocation base is a je the cost X Data Table indirect cost rate $ Now calculate the Budgeted manufacturing overhead costs Budgeted direct manufacturing labor-hours Actual manufacturing overhead costs Actual...
Janes Corporation manufactures custom cabinets for kitchens. It uses a normal-costing system with two direct-cost categories direct materials and direct manufacturing labor-and one indirect-cost pool, manufacturing overhead costs. It provides the following information for 2020: (Click the icon to view the information for 2020.) Read the requirement Begin by calculating the budgeted indirect cost rate. Select the formula and then calculate the rate. (Assume the cost allocation base is direct labor hours.) Budgeted manufacturing overhead costs Budgeted labor hours Budgeted...