Magna Carta Interiors is a job-order manufacturer. The company uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 150,000 and estimated factory overhead is $1,140,000. The following information is for September. Job X was completed during September, while Job Y was started but not finished. September 1, inventories: Materials $ 25,700 Work-in-process (All Job X) 55,100 Finished goods 107,300 Materials purchases $ 174,000 Direct materials requisitioned: Job X $ 75,700 Job Y 69,700 Direct labor hours: Job X 8,700 Job Y 7,200 Labor costs incurred: Direct labor ($7.70 per hour) $ 122,430 Indirect labor 50,100 Factory supervisory salaries 12,800 Rental costs: Factory $ 11,000 Administrative offices 4,900 Total equipment depreciation costs: Factory $ 12,100 Administrative offices 4,500 Indirect materials used $ 30,400 The total ending work-in-process for September is:
Magna Carta Interiors is a job-order manufacturer. The company uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 150,000 and estimated factory overhead is $1,140,000. The following information is for September. Job X was completed during September, while Job Y was started but not finished. September 1, inventories: Materials $ 25,700 Work-in-process (All Job X) 55,100 Finished goods 107,300 Materials purchases $ 174,000 Direct materials requisitioned: Job X $ 75,700 Job Y 69,700 Direct labor hours: Job X 8,700 Job Y 7,200 Labor costs incurred: Direct labor ($7.70 per hour) $ 122,430 Indirect labor 50,100 Factory supervisory salaries 12,800 Rental costs: Factory $ 11,000 Administrative offices 4,900 Total equipment depreciation costs: Factory $ 12,100 Administrative offices 4,500 Indirect materials used $ 30,400 The total ending work-in-process for September is:
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 4E: The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the...
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Magna Carta Interiors is a job-order manufacturer. The company uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 150,000 and estimated factory overhead is $1,140,000. The following information is for September. Job X was completed during September, while Job Y was started but not finished.
| September 1, inventories: | |
|---|---|
| Materials | $ 25,700 |
| Work-in-process (All Job X) | 55,100 |
| Finished goods | 107,300 |
| Materials purchases | $ 174,000 |
| Direct materials requisitioned: | |
| Job X | $ 75,700 |
| Job Y | 69,700 |
| Direct labor hours: | |
| Job X | 8,700 |
| Job Y | 7,200 |
| Labor costs incurred: | |
| Direct labor ($7.70 per hour) | $ 122,430 |
| Indirect labor | 50,100 |
| Factory supervisory salaries | 12,800 |
| Rental costs: | |
| Factory | $ 11,000 |
| Administrative offices | 4,900 |
| Total equipment depreciation costs: | |
| Factory | $ 12,100 |
| Administrative offices | 4,500 |
| Indirect materials used | $ 30,400 |
The total ending work-in-process for September is:
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