1.Charlotte Metals' operating activities for the year are listed below: Operating revenues $30 Operating cost $32013 Beginning inventiry $950,600 Ending ventory $420,700 Purchases $825,800 Sales revenue $5,500 Operating expenses $720,30€ What is the cost of goods sold (COGS) for the year? 2. Modesto Accessories manufactures two types of wallets leather and canvas. The company allocates manufacturing overhead using a single plant wide rate with direct labor cost as the allocation base. Estimated Overhead Costs 310,600 Direct Labor Cost per Leather Wallet = $48- Direct Labor Cost per Carsvas Walls: - $52 Number of Leather Wallet = EU0 Number of Canvas Wallets.200 Compute the Predetermined Overhead Allocation Rate.

1.Charlotte Metals' operating activities for the year are listed below: Operating revenues $30 Operating cost $32013 Beginning inventiry $950,600 Ending ventory $420,700 Purchases $825,800 Sales revenue $5,500 Operating expenses $720,30€ What is the cost of goods sold (COGS) for the year? 2. Modesto Accessories manufactures two types of wallets leather and canvas. The company allocates manufacturing overhead using a single plant wide rate with direct labor cost as the allocation base. Estimated Overhead Costs 310,600 Direct Labor Cost per Leather Wallet = $48- Direct Labor Cost per Carsvas Walls: - $52 Number of Leather Wallet = EU0 Number of Canvas Wallets.200 Compute the Predetermined Overhead Allocation Rate.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter5: Activity-based Costing And Management

Section: Chapter Questions

Problem 57P: Customers as a Cost Object Morrisom National Bank has requested an analysis of checking account...

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