Francum Company has the following data: direct labor $232,000, direct materials used $182,000, total manufacturing overhead $240,000, and beginning work in process $32,000. Compute total manufacturing costs.
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- Steeler Towel Company estimates its overhead to be $483,000. It expects to have 138,000 direct labor hours costing $4,830,000 in labor and utilizing 11,500 machine hours. Calculate the predetermined overhead rate using: Round your answers to two decimal places. A. Direct labor hours $fill in the blank 1 per direct labor hour B. Direct labor dollars $fill in the blank 2 per direct labor dollar C. Machine hours $fill in the blank 3 per machine hourMason Company provided the following data for this year: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Work in process Finished goods Beginning $ 8,600 $ 5,800 $ 71,000 Ending $ 10,800 $ 20,000 $ 25,400 $ 653,000 $ 82,000 $ 133,000 $ 106,000 $ 45,000 $ 223,000 $ 201,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement.Corporation had the following information: Raw materials used $ 70,000 Direct labor 135,000 Manufacturing overhead 370,000 Work-in-process inventory, 1/1 60,000 Finished-goods inventory, 1/1 199,000 Work-in-process inventory, 12/31 86,000 Finished-goods inventory, 12/31 150,000 Opal's cost of goods manufactured was
- Manufacturing overhead was estimated to be $480, 700 for the year along with an estimated 20,900 direct labor hours. Actual manufacturing overhead was $421,800, and actual labor hours were 21,300. The amount credited to the Manufacturing Overhead account would be: Multiple Choice $480, 700. $421,800. $489, 900. $441,700.Keeton Company had the following data: Cost of materials used $60,000 Direct labor costs 58,000 Factory overhead 33,000 Work in process inventory, beginning 29,000 Work in process inventory, ending 18,000 Finished goods inventory, beginning 32,000 Finished goods inventory, ending 18,000 Determine the cost of goods sold.$fill in the blank 1A Company estimates its overhead to be $375,000 It expects to have 125,000 direct labor hours costing $1,500,000 in labor It expects to utilize 15,000 machine hours Calculate the predetermined overhead rate using: Direct labor hours Direct labor dollars Machine hours Predetermined overhead allocation rate= estimated manufacturing overhead cost/ allocation base
- The following is the data for Lauren Enterprises: Selling and administrative expenses $75,000 Direct materials used 265,000 Direct labor (25,000 hours) 300,000 Factory overhead application rate $16 per DLH Inventories Beginning Ending Direct materials $50,000 $45,000 Work in process 75,000 90,000 Finished goods 40,000 25,000 Refer to Figure 2-14. What is the cost of goods manufactured? Inventories Beginning Ending Direct materials $50,000 $45,000 Work in process 90,000 75,000 40,000 25,000 Finished goods Refer to Figure 2-14. What is the cost of goods manufactured? $1,115,000 $965,000 $955,000 $950,0003. A company makes two products 1 and 2. The finishing activity pool has estimated manufacuring costs of $59,715 and the cost drivers for Product 1 is 226 and 377 for Product 2. The assembling activity pool has estimated costs of $32,051 and the cost drivers for Product 1 is 418 and 272 for Product 2. Direct labor hours for Product 1 is 50,000 and 45,000 for Product 2. What is the manufacturing overhead rate to be used under activity based costing for the assembly pool? Round your final answer to two decimal places and do not write a dollar sign.Here are selected data for Ramalingagowda Company: Cost of goods manufactured $320,000 Work in process inventory, beginning 109,000 Work in process inventory, ending 104,000 Direct materials used 73,000 Manufacturing overhead is allocated at 50% of direct labor cost. What was the approximate amount of manufacturing overhead costs? Select one: a. $161,333 b. $80,667 c. $242,000 d. $78,000 e. $151,250
- accMakkah Equipment Co. sells machines and has the following information for the year: Actual Estimated Overhead cost OMR 2,400,000 OMR 3,000,000 Direct labor hours 120,000 300,000 Machine hours 300,000 150,000 Overhead is applied on the basis of machine hours. The amount of manufacturing overhead to be applied is:1. Calculate the plant-wide overhead rate using the following information: Estimated Total Manufacturing Costs Estimated Cost Allocation Base Actual Total Manufacturing Costs Actual Cost Allocation Base $20 per machine hour $30 per machine hour $1,000,000 50,000 machine hours $1,500,000 25,000 machine hours $60 per machine hour $40 per machine hour