Manufacturing cost data for Wildhorse Company, which uses a job order cost system, are presented below.Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor costand the rate is the same. (Round overhead rate to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g.5,275.)Work in process 1/1/22Direct materials usedDirect laborManufacturing overhead appliedTotal manufacturing costsTotal cost of work in processWork in process 12/31/22Cost of goods manufactured$Case A61,00050,020177,693245,830234,606(a)(b)(c)Case B$18,910$101,260170,80014,396(d)(e)(f)(g)

Name: Manufacturing cost data for Wildhorse Company, which uses a job order
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Manufacturing cost data for Wildhorse Company, which uses a job order cost system, are presented below.Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor costand the r

Computation of above requirement are as follows

Business

Accounting

Manufacturing cost data for Wildhorse Company, which uses a job order cost system, are presented below. Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor cost and the rate is the same. (Round overhead rate to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,275.) Work in process 1/1/22 Direct materials used Direct labor Manufacturing overhead applied $ Case A 61,000 50,020 (a) (b) Case B $18,910 $101,260 170,800 (d)

Manufacturing cost data for Wildhorse Company, which uses a job order cost system, are presented below. Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor cost and the rate is the same. (Round overhead rate to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,275.) Work in process 1/1/22 Direct materials used Direct labor Manufacturing overhead applied $ Case A 61,000 50,020 (a) (b) Case B $18,910 $101,260 170,800 (d)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Manufacturing cost data for Cullumber Company, which uses a job - order cost system, are presented below. Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labour cost and the rate is the same.
The following is taken from Clausen Company’s internal records of its factory with two operating departments. The cost driver for indirect labor is direct labor hours, and the cost driver for the remaining items is number of hours of machine use. Compute the total amount of overhead cost allocated to Dept. 1 using activity-based costing. Direct Labor Hours Machine Hours Operating Dept. 1 1,020 9,600 Operating Dept. 2 2,380 6,400 Totals 3,400 16,000 Factory overhead costs Rent and utilities $ 22,900 Indirect labor 18,500 Depreciation – Equipment 15,600 Total factory overhead $ 57,000
Care Company uses job costing and has assembled the following cost data for the production and assembly of item X: (Click the icon to view the cost data.) Based on the above cost data, the manufacturing overhead for item X is A. $1,590 underallocated. B. $350 overallocated. C. $350 underallocated. D. $1,590 overallocated. Cost Data Direct manufacturing labor wages Direct material used Indirect manufacturing labor Utilities Fire insurance Manufacturing overhead applied Indirect materials Depreciation on equipment $ 36,000 100,000 3,800 450 490 10,000 6,500 350 X
A job cost sheet of Wildhorse Company is given below. Job Cost Sheet JORNO White Lion C Date Requested 42 FOR Told Company Date Completed Date Direct Materials Direct Manufacturing Labor Overhead 7/10 200 600 730 400 480 1700 1520 31 500 600 Cost of completed job Direct materials Direct labor Manufacturing overhead Total cost Unit cost (a) Your answer is correct Answer the following questiona. (1) What are the source documents for direct maten als direct labor, and manufacturing overhead costs assigned to this job? Source Documents Direct material Direct labar Manufacturing (2) Overhead is applied on the basis of direct tabar cost. What is the predetermined manufacturing overhead rate! termined manufacturing overhead cate 120 31 What are the total cost and the unit cost of the completed job Round unitat o 2 decimal places, eg 125 Total cost of the completed job 120 Unit cost of the completed job S 14006 Textbook and Media List of Accounts Prepare the salty to record the soniction…
Telstar uses job order costing. The T-accounts below summarize its production activity for the year. Raw Materials Inventory Debit Factory Wages Payable Debit Credit Credit 46,900 Work in Process Inventory Debit Credit 26,150 9,900 26,150 87,650 104,584 Required 1 172,220 1. Compute the amount for each of the following. a. Direct materials used b. Indirect materials used c. Direct labor used d. Indirect labor used e. Cost of goods manufactured f. Cost of goods sold (before closing over- or underapplied overhead) 2. Compute the amount that overhead is overapplied or underapplied. Required 2 127,900 Complete this question by entering your answers in the tabs below. Finished Goods Inventory Credit Debit 172,220 155,190 Required 1 Required 2 87,650 42, 150 Compute the amount for each of the following. a. Direct materials used b. Indirect materials used c. Direct labor used d. Indirect labor used e. Cost of goods manufactured f. Cost of goods sold (before closing over- or underapplied…
Please see picture below.
Please show your work.
Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Inventories Raw materials Work in process Finished goods Beginning of period $ 43,000 9,200 63,000 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs End of Period $ 57,000 18,600 34,300 $ 183,000 150,000 18,000 34,500 98,500 Exercise 15-12 (Algo) Computing materials, labor, overhead, and cost of goods manufactured LO P1, P2, P3, P4 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the…
The following is taken from Clausen Company's internal records of its factory with two operating departments. The cost driver for indirect labor is direct labor hours, and the cost driver for the remaining items is number of hours of machine use. Compute the total amount of rent and utilities allocated to Dept. 2 using activity-based costing. Direct LaborHours MachineHours Operating Dept. 1 864 9,300 Operating Dept. 2 2,016 6,200 Totals 2,880 15,500 Factory overhead costs Rent and utilities $ 20,700 Indirect labor 16,300 Depreciation – Equipment 13,000 Total factory overhead $ 50,000
The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Inventories Raw materials -Work in process Finished goods Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. View transaction list Beginning of period $ 40,000 9,400 56,000 Journal entry worksheet A Prepare journal entries for the above transactions for the period. B C Transaction 1 Note: Enter debits before credits. End of Period $ 50,000 20,600 34,000 $ 183,000 150,000 11,000 34,500 91,000 Record the raw material purchases for cash. General Journal Debit Credit
Please complete both parts (see picture below).
Please answer all the parts , otherwise skip it please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)