I need only question 8 and 10 to be solved please 8.- What is the total amount of actual manufacturing overhead cost incurred during the year? 10.- What is the cost of goods available for sale during the year?
I need only question 8 and 10 to be solved please 8.- What is the total amount of actual manufacturing overhead cost incurred during the year? 10.- What is the cost of goods available for sale during the year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I need only question 8 and 10 to be solved please
8.- What is the total amount of actual
10.- What is the cost of goods available for sale during the year?
![Required information
The Foundational 15 (Algo) [LO3-1, LO3-2, LO3-3, L03-4]
[The following information applies to the questions displayed below]
Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were
as follows:
Raw materials
Work in process
Finished goods
$ 66,000
$ 33,600
$ 38,400
The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's
predetermined overhead rate of $13.50 per direct labor-hour was based on a cost formula that estimated $540,000 of
total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were
recorded for the year:
a. Raw materials were purchased on account, $684,000.
b. Raw materials used in production, $646,400. All of of the raw materials were used as direct materials.
c. The following costs were accrued for employee services: direct labor, $490,000; indirect labor, $150,000; selling and
administrative salaries, $319,000.
d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods
warehousing), $423,000.
e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $390,000.
f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all
jobs during the year.
g. Jobs costing $1,623,300 to manufacture according to their job cost sheets were completed during the year.
h. Jobs were sold on account to customers during the year for a total of $3,547,500. The jobs cost $1,633,300 to
manufacture according to their job cost sheets.
Foundational 3-8 (Algo)
8. What is the total amount of actual manufacturing overhead cost incurred during the year?
Total actual manufacturing overhead cost
$ 1,633,300](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8f61e626-7d33-482f-bf18-423884fdaa73%2Fe2338740-9430-4921-82a3-bed906ba7c45%2Fxzk0wc_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
The Foundational 15 (Algo) [LO3-1, LO3-2, LO3-3, L03-4]
[The following information applies to the questions displayed below]
Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were
as follows:
Raw materials
Work in process
Finished goods
$ 66,000
$ 33,600
$ 38,400
The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's
predetermined overhead rate of $13.50 per direct labor-hour was based on a cost formula that estimated $540,000 of
total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were
recorded for the year:
a. Raw materials were purchased on account, $684,000.
b. Raw materials used in production, $646,400. All of of the raw materials were used as direct materials.
c. The following costs were accrued for employee services: direct labor, $490,000; indirect labor, $150,000; selling and
administrative salaries, $319,000.
d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods
warehousing), $423,000.
e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $390,000.
f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all
jobs during the year.
g. Jobs costing $1,623,300 to manufacture according to their job cost sheets were completed during the year.
h. Jobs were sold on account to customers during the year for a total of $3,547,500. The jobs cost $1,633,300 to
manufacture according to their job cost sheets.
Foundational 3-8 (Algo)
8. What is the total amount of actual manufacturing overhead cost incurred during the year?
Total actual manufacturing overhead cost
$ 1,633,300
![Required information
The Foundational 15 (Algo) [LO3-1, LO3-2, LO3-3, LO3-4]
[The following information applies to the questions displayed below.]
Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were
as follows:
Raw materials
Work in process
Finished goods
$ 66,000
$ 33,600
$ 38,400
The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's
predetermined overhead rate of $13.50 per direct labor-hour was based on a cost formula that estimated $540,000 of
total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were
recorded for the year:
a. Raw materials were purchased on account, $684,000.
b. Raw materials used in production, $646,400. All of of the raw materials were used as direct materials.
c. The following costs were accrued for employee services: direct labor, $490,000; indirect labor, $150,000; selling and
administrative salaries, $319,000.
d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods
warehousing), $423,000.
e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $390,000.
f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all
jobs during the year.
g. Jobs costing $1,623,300 to manufacture according to their job cost sheets were completed during the year.
h. Jobs were sold on account to customers during the year for a total of $3,547,500. The jobs cost $1,633,300 to
manufacture according to their job cost sheets.
Foundational 3-10 (Algo)
10. What is the cost of goods available for sale during the year?
Cost of goods available for sale
$
1,633,300](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8f61e626-7d33-482f-bf18-423884fdaa73%2Fe2338740-9430-4921-82a3-bed906ba7c45%2Fup0zwgb_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
The Foundational 15 (Algo) [LO3-1, LO3-2, LO3-3, LO3-4]
[The following information applies to the questions displayed below.]
Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were
as follows:
Raw materials
Work in process
Finished goods
$ 66,000
$ 33,600
$ 38,400
The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's
predetermined overhead rate of $13.50 per direct labor-hour was based on a cost formula that estimated $540,000 of
total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were
recorded for the year:
a. Raw materials were purchased on account, $684,000.
b. Raw materials used in production, $646,400. All of of the raw materials were used as direct materials.
c. The following costs were accrued for employee services: direct labor, $490,000; indirect labor, $150,000; selling and
administrative salaries, $319,000.
d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods
warehousing), $423,000.
e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $390,000.
f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all
jobs during the year.
g. Jobs costing $1,623,300 to manufacture according to their job cost sheets were completed during the year.
h. Jobs were sold on account to customers during the year for a total of $3,547,500. The jobs cost $1,633,300 to
manufacture according to their job cost sheets.
Foundational 3-10 (Algo)
10. What is the cost of goods available for sale during the year?
Cost of goods available for sale
$
1,633,300
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