Question

Required information 5 [The following information applies to the questions displayed below.] Midnight Sun Apparel Company uses normal costing, and manufacturing overhead is applied to work-in- process on the basis of machine hours. On January 1 of the current year, there were no balances in work- in-process or finished-goods inventories. The following estimates were included in the current year's budget. Total budgeted manufacturing overhead Total budgeted machine hours $ 282,000 47,000 During January, the firm began the following production jobs: A79: 1,000 machine hours N08: 2,500 machine hours P82: 500 machine hours During January, job numbers A79 and NO8 were completed, and job number A79 was sold. The actual manufacturing overhead incurred during January was $26,000.

Answer 1

250 WID Suvartony (2000X125 %) Finished Giocos Suvanteosey (2000X62.59 $ $ 1,250 Cost of Good sold (2000X25% So $ 500 To Manufacturing Overhead [Bring Lunderopplies Ovestead proputed to joba) $ 2000

2,000. Ante Particulars Debit 5 WIP Invastasu (2000X25 ) 500 finished Google Inventory (2000X62:5%) dy 1,250 Coat of Goods Sold (2000X12.51) Sor 250 Yo Manufachouing Drasshead (Being roles applied overhead proposto Working Note Overhead kate - Estimated Overhead to hobe) Estimated Machine How = 2,82000– 47000 = $ 6 MHL pan Aza Calculation of Applied Overhead Awasheed Pipples % of applied Oneshead to take Actual Hows Overhead Rate to total applied overhead 1000 $ 6000 Nog $ 15000 P82 Total 400ch! Applied Overhead - Actual - Applied Overhead 26,000 - 24000 = $2,000 (undesapplied) 25%. 62.5% 12.5% 2500 $ 30.00 $ 94000 Yܘܘܐ
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