Assume that in Case 1 the other items in the current assets section are as follows: cash $ 3,090, receivables (net) $ 10,110, rawmaterials $ 850, and prepaid expenses $ 300. Incomplete manufacturing costs, expenses, and selling data for two different cases aregiven below:(a)Your answer is correct.Indicate the missing amount for each letter.Direct Materials UsedDirect LabourManufacturing OverheadTotal Manufacturing CostsBeginning Work in Process Inventory1Case2$6,600$66303,1808,5506,1203,00015900(a)18,1801,4608200(h)

To find the missing amount (a), we need to calculate the total manufacturing costs for Case 1 and…

Answered: Assume that in Case 1 the other items…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 1P: The cost behavior patterns below are lettered A through H. The vertical axes of the graphs represent...

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c) Having carried out the allocation and apportionment process of its operations, the management accountant of Flowers Ltd is left with the reapportionments to carry out. The data below represent the current state of the overhead distribution summary and the additional detail that is needed to answer the question that follows. Flower Ltd overhead distribution summary Production department T M Amount in Amount in Kes Kes 25,000 20,000 Total b/d Reapportionment percentages A (%) B (%) Required Production department M T 30 20 20 25 F Amount in Kes 30,000 F 25 30 i. The repeated distribution method ii. Algebraic method Service department A Amount in Kes 10,000 Service department A - B Amount in Kes 20,000 25 B 25 a) Reapportion the service department overheads into the production departments on the basis of each of the following:
Analyze the following T-accounts (Click the icon to view the T-accounts.) Determine the missing amounts. (Assume that material costs are recorded before labor costs) Raw Materials Inventory Work-in-Process Inventory Finished Goods Inventory Bal. 1,000 Bal. 6,000 Bal 7,000 38,000 31,000 (a) (b) 38,000 (c) 7,000 12,900 Bal 9,500 Bal 7.900 Bal 18,000 Accumulated Depreciation Accounts Payable Wages Payable 8,600 (e) 15,000 31.000
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For each of the following independent cases (A through E), compute the missing values in the table: Total Manufacturing Cost Case A B C DE E Prime Cost 6,950 11,660 Conversion Cost 11,580 7,970 20,510 Direct Materials $ 2,010 $ 2,120 1,410 3,340 Direct Labor Manufacturing Overhead 1,020 $ 3,140 2,030 3,620 6,750 2,900 9,380 5,990
For each of the following independent cases (1 to 4), compute the missing values. Note: Enter all amounts as positive values. Case 1 Case 2 Case 3 Case 4 Beginning raw materials Raw materials purchases Indirect materials issued Ending raw materials $ 69 6,900 $ 25,000 $ 108,000 54,000 11,250 50,640 500 2,500 700 2,900 1,500 2,950 95,000 Direct materials used 14,300 33,420 Direct labor 37,000 122,750 Manufacturing overhead applied 61,000 38,950 30,280 539,830 Total current manufacturing costs 82,600 94,400 Beginning work in process 50,000 36,600 100,520 Ending work in process 43,150 237,600 Cost of goods manufactured 138,000 71,800 91,025 826,900 Beginning finished goods 77,000 52,900 Ending finished goods 79,000 30,100 398,100 Cost of goods sold 75,000 112,575 842,400
For each of the following independent cases A-D, compute the missing values: (Enter all amounts as positive v Total Current Beginning Work Ending Work in in Process Inventory Cost of Goods Case Manufacturing Costs Process Inventory Manufactured A. 2$ 5,200 $ 1,700 $ 700 B 1,700 1,420 2,610 C 580 1,590 7,310 D 8,850 1,050 6,775
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All applicable Cases are available with McGraw-Hill’s Connect™Accounting. Cost of goods manufactured, cost of goods sold, and income statement Determine each of the following missing amounts:Firm A Firm B Firm CBeginning raw materials inventory . . . . . . . . . . . . . . . . . $ 17,000 $ ? $ 42,000Purchases of raw materials during the year . . . . . . . . . . ? 96,000 226,000Raw materials available for use . . . . . . . . . . . . . . . . . . . ? 119,000 ?Ending raw materials inventory . . . . . . . . . . . . . . . . . . . 12,000 ? 51,000Cost of raw materials used . . . . . . . . . . . . . . . . . . . . . . 90,000 101,000 ?Direct labor costs incurred. . . . . . . . . . . . . . . . . . . . . . . 130,000 ? 318,000Variable manufacturing overhead applied. . . . . . . . . . . . ? 34,000 72,000Fixed manufacturing overhead applied. . . . . . . . . . . . . . 100,000 60,000 ?Total manufacturing costs incurred . . . . . . . . . . . . . . . . 370,000 ? ?Beginning work in process. . . . . . . . .…
The cost behavior patterns below are lettered A through H. The vertical axes of the graphs represent total dollars of expense, and the horizontal axes represent production in units, machine hours, or direct labor hours. In each case, the zero point is at the intersection of the two axes. Each graph may be used no more than once. Required: Select the graph that matches the lettered cost described here. a. Depreciation of equipmentthe amount of depreciation charged is computed based on the number of machine hours that the equipment was operated. b. Electricity billflat fixed charge, plus a variable cost after a certain number of kilowatt hours are used. c. City water billcomputed as follows: d. Depreciation of equipmentthe amount is computed by the straight-line method. e. Rent on a factory building donated by the citythe agreement calls for a fixed fee payment, unless 200,000 labor hours are worked, in which case no rent need be paid. f. Salaries of repair workersone repair worker is needed for every 1,000 machine hours or less (i.e., 0 to 1,000 hours requires one repair worker, 1,001 to 2,000 hours requires two repair workers, etc.).
Requirements: (kindly disregard the requirements on picture.) 1. Cost of the following under FIFO method a. In process, beg to be accounted to completed and transferred. b. Started and completed for the period to be accounted to completed and transferred. c. In process, end
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