a.
Bakerston
Company Schedule of Cost of Goods Manufactured |
||
For the year ended...... | ||
Cost of Raw Materials Consumed | ||
Beginning Raw Materials | 14,000 | |
Add: Purchases | 315,000 | |
Less: Ending Raw Materials | (22,000) | 307,000 |
Direct Labor | 377,612 | |
Manufacturing Overhead Applied ( 31,823 machine hours x $ 7 ) | 222,761 | |
Total Manufacturing Costs | 907,373 | |
Add: Beginning Work in Process | 27,000 | |
Total Cost of Work in Process | 934,373 | |
Less: Ending Work in Process | (9,000) | |
Cost of Goods Manufactured | $ 925,373 |
b. Cost of Goods Sold: $ 910,373.
Bakerston
Company Schedule of Cost of Goods Sold |
|
Beginning Finished Goods | $ 62,000 |
Add: Cost of Goods Manufactured | 925,373 |
Cost of Goods Available for Sale | 987,373 |
Less: Ending Finished Goods | (77,000) |
Cost of Goods Sold | $910,373 |
c. Manufacturing overhead incurred = $ 226,029
Manufacturing overhead applied = $ 222,761
Manufacturing underapplied = $ 222,761 - $ 226,029 = $ 3,268
Indirect labor | $ 95,110 |
Factory utility costs | 10,919 |
Depreciation | 120,000 |
Total Manufacturing Overhead Incurred | $ 226,029 |
snill Alt PriSc Ctri 3. Bakerston Company is a manufacturing firm that uses job-order costing. The...
1. Bakerston Company is a manufacturing firm that uses job-onder costing. The company's inventory bal- ances were as follows at the beginning and end of the year. Raw materials Work in process Finished goods Beginning Balance $14,000 $27,000 $62,000 Ending Balance $22.000 $9,000 $77.000 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 33,000 machine hours and incur 5231,000 in manufacturing overhead...
Bakerston Company is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Raw materials Work in process Finished goods Beginning Balance $ 11,600 $ 32,600 $102,000 Ending Balance $ 15,900 $ 14,300 $125,000 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 17,400 machine-hours and incur $261,000 in manufacturing...
Bakerston Company is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Beginning Balance Ending Balance Raw materials $ 11,000 $ 15,400 Work in process $ 33,000 $ 14,100 Finished goods $ 109,000 $ 124,000 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 17,400 machine-hours and incur $261,000...
Bakerston Company is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Raw materials Work in process Finished goods Beginning Balance $ 11,600 $ 32,600 $102,000 Ending Balance $ 15,900 $ 14,300 $125,000 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 17,400 machine-hours and incur $261,000 in manufacturing...
Bakerston Company is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year Raw materials Work in process Finished goods $ 11,700 32,000 $107,000 $ 15,200 $ 14,300 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 17,300 machine-hours and incur $276,800 in manufacturing overhead cost. The following transactions were...
2. Allenton Company is a manufacturing firm that uses job-order costing. The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 31,000 machine-hours and incur $252,650 in manufacturing overhead cost. The following transactions were recorded for the year: a. Raw materials were purchased, $412,176.on acok (AP) b. Raw materials were requisitioned for use in production, $409,850 (5388,400 direct and $21.450 indi- rect). c....
Problem Bi Babb Company is a manufacturing firm that uses jou uses job-order costing. The company's the beginning and end of the year: inventory balances were as follows at the beginning and end Beginning Balance Ending Balance $11,000 $32,000 $14,000 Finished goods $108,000 $123,000 $15,000 Raw materials............ Work in process...... applies overhead to jobs using a predetermined overhead rate based line-hours. At the beginning of the year, the company estimated that estimated that it would work 17,000 machine-hours and incur...
Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Beginning Balance Ending Balance Raw materials $ 14,300 $ 22,300 Work in process $ 27,300 $ 9,300 Finished Goods $ 62,300 $ 77,300 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 33,300 machine-hours and incur $253,080...
Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Beginning Balance Ending Balance Raw materials $ 14,550 $ 22,550 Work in process $ 27,550 $ 9550 Finished Goods $ 62,550 $ 77,550 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 33,550 machine-hours and incur $271,755...
Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Beginning Balance Ending Balance Raw materials $ 14,550 $ 22,550 Work in process $ 27,550 $ 9550 Finished Goods $ 62,550 $ 77,550 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 33,550 machine-hours and incur $271,755...