67 of 391 > Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) $400,000 Direct labor cost $60,000 Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 15,000 130,000 8,000 70,000 240,000 10,000 $473,000 3 $20,000 $30,000 $40,000 $70,000 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 19,400 machine- hours were used during the year. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. 2. Prepare a schedule of cost of goods manufactured for the year. A

The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?

Selected information from Skylar Studios shows the following: Prepare journal entries to record the following: raw material purchased direct labor incurred depreciation expense (hint: this is part of manufacturing overhead) raw materials used overhead applied on the basis of $0.50 per machine hour the transfer from department 1 to department 2

Requirement 2. Show how to compute cost of goods manufactured. Use the following​ amounts: direct materials​ used, $19,000​; direct​ labor, $6,000​; manufacturing​overhead, $21,000​; beginning​ Work-in-Process Inventory, $14,800​; and ending​ Work-in-Process Inventory, $8,000.   Cost of Goods Manufactured Direct Materials Used     Direct Labor     Manufacturing Overhead           Total Manufacturing Costs Incurred during Period     Total Manufacturing Costs to Account For           Cost of Goods Manufactured     Requirement 3. Using the results from Requirement​ 2, calculate the cost per unit for goods manufactured assuming 1,100 units were manufactured.     ÷   = Unit product cost   ÷   =   Requirement 4. Beginning Finished Goods Inventory had 225 units that had a unit cost of $45 each. Ending Finished Goods Inventory has 250 units left.…

Assume the following information from a schedule of cost of goods manufactured:  Beginning work in process inventory    $ 30,000Direct materials used in production    $ 50,000Direct labor    $ 60,000Total manufacturing costs to account for    $ 207,000Ending work in process inventory    $ 72,000 What is the manufacturing overhead applied to work in process?

Compute the amount for each of the following. Direct materials used Indirect materials used Direct labor used Indirect labor used Cost of goods manufactured Cost of goods sold (before closing over- or underapplied overhead) Compute the amount that overhead is overapplied or underapplied.

Hh1. Account

Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Job P $ 25,000 $ 30,600 Molding 2,500 $ 13,000 $ 2.60 2,900 1,800 4,700 5. What is the total manufacturing cost assigned to Job Q? Note: Do not round intermediate calculations. Total manufacturing cost Job Q $ 14,000 $ 12,300 Fabrication 1,500 $ 16,800 $ 3.40 2,000 2,100 4,100 Total Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. 4,000 $ 29,800 Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation…

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