Bobby's contracting creates individual pieces of interior design for clients. Each is different as they have different requirements and stylizing. Bobby is trying to sort out his pricing, and aims for a 35% margin on top of all costs. Manufacturing OH is allocated based on 20$ per DLHour and this rate is expected for the full financial period. 80 hours were spent on this job. There are no opening inventories, and the client is looking for a price quote... The boss told you not to worry about the opening or ending balances. Post the manufacturing entries in T-accounts provided for A) the end of year OH entry, B) movement of inventory, and C) revenue made in period of $500,000. Actual OH Work in Progress (WIP) $ 60,000 100,000 200,000 Finished Goods COGS $ 5,000 50,000 150,000 205,000 Budgeted OH Revenue 200,000 OH DM DL OH
Bobby's contracting creates individual pieces of interior design for clients. Each is different as they have different requirements and stylizing. Bobby is trying to sort out his pricing, and aims for a 35% margin on top of all costs. Manufacturing OH is allocated based on 20$ per DLHour and this rate is expected for the full financial period. 80 hours were spent on this job. There are no opening inventories, and the client is looking for a price quote... The boss told you not to worry about the opening or ending balances. Post the manufacturing entries in T-accounts provided for A) the end of year OH entry, B) movement of inventory, and C) revenue made in period of $500,000. Actual OH Work in Progress (WIP) $ 60,000 100,000 200,000 Finished Goods COGS $ 5,000 50,000 150,000 205,000 Budgeted OH Revenue 200,000 OH DM DL OH
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
Chapter7: Cost-volume-profit Analysis
Section: Chapter Questions
Problem 58P: Polaris Inc. manufactures two types of metal stampings for the automobile industry: door handles and...
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Bobby's contracting creates individual pieces of interior design for clients.
Each is different as they have different requirements and stylizing.
Bobby is trying to sort out his pricing, and aims for a 35% margin on top of all costs.
Manufacturing OH is allocated based on 20$ per DLHour and this rate is expected for the full financial period.
80 hours were spent on this job. There are no opening inventories, and the client is looking for a price quote.
The boss told you not to worry about the opening or ending balances.
Post the manufacturing entries in T-accounts provided for
A) the end of year OH entry,
B) movement of inventory, and
C) revenue made in period of $500,000.
Actual OH
Work in Progress (WIP)
$
60,000
100,000
200,000
Finished Goods
COGS
$
5,000
50,000
150,000
205,000
Budgeted OH
Revenue
200,000 OH
DM
DL
OH](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9ccc441c-d558-41e4-b311-cf0569c20426%2Fbe72abcf-a0cd-480a-848c-2c7eff89b403%2Fh40vtxq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1 Q6:
12345678
517336
10
11
12
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
G
H
Bobby's contracting creates individual pieces of interior design for clients.
Each is different as they have different requirements and stylizing.
Bobby is trying to sort out his pricing, and aims for a 35% margin on top of all costs.
Manufacturing OH is allocated based on 20$ per DLHour and this rate is expected for the full financial period.
80 hours were spent on this job. There are no opening inventories, and the client is looking for a price quote.
The boss told you not to worry about the opening or ending balances.
Post the manufacturing entries in T-accounts provided for
A) the end of year OH entry,
B) movement of inventory, and
C) revenue made in period of $500,000.
Actual OH
Work in Progress (WIP)
$
60,000
100,000
200,000
Finished Goods
COGS
$
5,000
50,000
150,000
205,000
Budgeted OH
Revenue
200,000 OH
DM
DL
OH
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