Required: The amount of direct labor and the amo2-2. Manufacturing costs. The Klaassen Company reports the following data for SeptemberPRODUCT BPRODUCT A10,000 units8,000 unitsProductionPer unit production costs applicable to beginning in-ventories and Septernber productionDirect materialsDirect laborApplied factory overhead.$ 410.$ 32014$21$37Sales price per unit$30$50900 unitsBeginning inventoriesEnding inventories1,000 units2,000100Actual factory overhead was $180,000; factory overhead is applied at a rate of $.70 per diretlabor dollar. Over- or underapplied factory overhead is closed to the cost of goods sold accountMarketing and administrative expenses were $100,900.Required:(1) Over- or underapplied factory overhead.(2) Cost of goods manufactured.(3) Cost of goods sold.(4) Operating income.

Name: Required: The amount of direct labor and the amo2-2. Manufacturing co
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Description: Required: The amount of direct labor and the amo2-2. Manufacturing costs. The Klaassen Company reports the following data for SeptemberPRODUCT BPRODUCT A10,000 units8,000 unitsProductionPer unit production costs applicable to beginning in-ventories

Over applied overhead= Applied overhead- Actual overhead Beginning/closing inventory= Units* product…

Business

Accounting

2-2. Manufacturing costs. The Klaassen Company reports the following data for September PHODUCT B 8,000 units Required: The amount of di PRODUCT A 10,000 units Production Per unit production costs applicable to beginning in- ventories and Septernber production Direct materials Direct labor. Applied factory overhead. $ 4 10. $ 3 20 14 $21 $37 $30 $50 Sales price per unit Beginning inventories. Ending inventories 1,000 units 2,000 900 units 100 Actual factory overhead was $180,000; factory overhead is applied at a rate of $.70 per diret labor dollar. Over- or underapplied factory overhead is closed to the cost of goods sold account Marketing and administrative expenses were $100,900. Required: (1) Over- or underapplied factory overhead. (2) Cost of goods manufactured. (3) Cost of goods sold. (4) Operating income.

2-2. Manufacturing costs. The Klaassen Company reports the following data for September PHODUCT B 8,000 units Required: The amount of di PRODUCT A 10,000 units Production Per unit production costs applicable to beginning in- ventories and Septernber production Direct materials Direct labor. Applied factory overhead. $ 4 10. $ 3 20 14 $21 $37 $30 $50 Sales price per unit Beginning inventories. Ending inventories 1,000 units 2,000 900 units 100 Actual factory overhead was $180,000; factory overhead is applied at a rate of $.70 per diret labor dollar. Over- or underapplied factory overhead is closed to the cost of goods sold account Marketing and administrative expenses were $100,900. Required: (1) Over- or underapplied factory overhead. (2) Cost of goods manufactured. (3) Cost of goods sold. (4) Operating income.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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