Mehboob Inc. has provided the following data for the month of April. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work in Cost of Goods Finished Goods Total Process Sold Manufacturing overhead for the month was overapplied by Rs. 6,000. Direct materials 5,640 7,540 72,460 85,640 The Corporation allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts Direct labor 5,430 13,780 80,220 99,430 Manufacturing overhead applied 4,990 8,400 56,700 70,000 Total 16,060 29,720 209,380 255,070 The cost of goods sold for April after allocation of overapplied manufacturing is?

Mehboob Inc. has provided the following data for the month of April. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work in Cost of Goods Finished Goods Total Process Sold Manufacturing overhead for the month was overapplied by Rs. 6,000. Direct materials 5,640 7,540 72,460 85,640 The Corporation allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts Direct labor 5,430 13,780 80,220 99,430 Manufacturing overhead applied 4,990 8,400 56,700 70,000 Total 16,060 29,720 209,380 255,070 The cost of goods sold for April after allocation of overapplied manufacturing is?

Name: Mehboob Inc. has provided the following data for the month of April.
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Mehboob Inc. has provided the following data for the month of April. There were no beginning inventories; consequently, the direct materials, direct labor, andmanufacturing overhead applied listed below are all for the current month.Work inCost of G

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

Reith Incorporated has provided the following data for the month of November. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Direct materials Direct labor Manufacturing overhead applied Total Cost of Work In Finished Goods Sold Total Process Goods $1,850 $10,440 $ 58,560 $ 70,850 3,510 153,010 22,620 126,880 7,800 42,640 1,560 52,000 $6,920 $40,860 $228,080 $275,860 Manufacturing overhead for the month was overapplied by $4,000. The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts. The cost of goods sold for November after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to:
Weatherhead Incorporated has provided the following data for the month of March. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work In Process Finished Goods Cost of Goods Sold Total Direct materials $ 4,240 $14,740 $ 41,900 $ 60,880 Direct labor 10,480 29,480 83,880 123,840 Manufacturing overhead applied 5,860 12,100 35,060 53,020 Total $20,580 $56,320 $160,840 $237,740 Manufacturing overhead for the month was overapplied by $3,100.The Corporation allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts.The work in process inventory at the end of March after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to: (Round…
Ammons Corporation allocates manufacturing overhead using a predetermined manufacturing overhead rate of $1.50 per direct labor hour (DLH), and had actual manufacturing overhead costs for the most recent year of $29,500. Actual direct labor cost was $19 per hour and estimated direct labor cost was $17 per direct labor hour. At the end of the year, Ammons Corporation found it had over-allocated manufacturing overhead by $1,250. How many direct labor hours (DLH) were worked in total during the year? Select one: a. 18,833 DLH b. 20,500 DLH c. 1,552 DLH d. 1,735 DLH e. 19,667 DLH
Cerrone Inc. has provided the following data for the month of July. The balance in the Finished Goods inventory account at the beginning of the month was S76,500 and at the end of the month was $69,750. The cost of goods manufactured for the month was $350,300. The actual manufacturing overhead cost incurred was $114,700 and the manufacturing overhead cost applied to jobs was $108,500. The adjusted cost of goods sold that would appear on the income statement for July is: A. S350,300 B. $363,250 C. S356,500 D. $344,100
Nincada Inc Inc has provided the following data for the month of March. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work-in-Process Finished Goods Cost of Goods Sold Total Direct Materials ₱ 4,450 ₱ 5,800 ₱ 8,500 ₱ 18,750 Direct Labor ₱ 5,750 ₱ 5,374 ₱ 9,700 ₱ 20,824 Applied Overhead ₱ 6,200 ₱ 11,950 ₱ 7,876 ₱ 26,026 Total ₱ 16,400 ₱ 23,124 ₱ 26,076 ₱ 65,600 Manufacturing overhead for the month was OVERAPPLIED by ₱8,000. The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the ending balances in those accounts. Nincada's Finished Goods after allocation of any underapplied or overapplied overhead for the month is closest to ₱_____________. Note: For interim calculations, use 5 decimal places; round-off final answer to…
Action corporation, which applies manufacturing overhead on the basis of labor hours, has provided the following data for its most recent year of operations. Estimated labor hours were 3,900. Actual labor hours were 3800. Note that labor hours are used. Estimated manufacturing overhead $137,080 Estimated machine-hours 3,800 Actual manufacturing overhead $137,000 Actual machine-hours 3,780 The applied manufacturing overhead for the year is closest to: $136,269 $138,348 $135,513 $133,565 None of the above Please show work.
Cerrone Inc. has provided the following data for the month of July. The balance in the Finished Goods inventory account at the beginning of the month was $50,400 and at the end of the month was $38,400. The cost of goods manufactured for the month was $291,000. The actual manufacturing overhead cost incurred was $165,400 and the manufacturing overhead cost applied to Work in Process was $154,000. The adjusted cost of goods sold that would appear on the income statement for July is: $279,000 $303,000 $291,600 $314,400
Coop's Stoops estimated its annual overhead to be $72,000 and based its predetermined overhead rate on 24,000 direct labor hours. At the end of the year, actual overhead was $77,190 and the total direct labor hours were 23,830. What is the entry to dispose of the overapplied or underapplied overhead? If an amount box does not require an entry, leave it blank. Cost of Goods Sold ✓✓ Manufacturing Overhead X ✓ ✓ X
Aeldaentos Pte Ltd. has provided the following data for the month of April. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work in Process Finished Goods Cost of Goods Sold Total Direct Materials $ 7,712 $ 7,395 $ 5,499 $ 20,606 Direct Labor 13,721 14,027 7,778 35,526 Manufacturing Overhead Applied 33,782 53,251 22,124 109,157 Total 55,215 74,673 35,401 165,289 The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts. Manufacturing overhead for the month was underapplied by $7,847. The Work-in-Process inventory at the end of the month after allocation of any underapplied or overapplied manufacturing overhead for the month is:
Maryville Incorporated incurred the following costs during June: Raw materials used Direct labor Manufacturing overhead, actual Selling expenses Administrative expenses Interest expense $ 331,000 652,000 448,000 267,000 194,000 91,000 During the month, 53,000 units of product were manufactured and 48,000 units of product were sold. On June 1, Maryville carried no Inventories. On June 30, there were no inventories other than finished goods. Required: a. Calculate the cost of goods manufactured during June and the average cost per unit of product manufactured. b. Calculate the cost of goods sold during June. c. Calculate the difference between cost of goods manufactured and cost of goods sold. How will this amount be reported in the financial statements? d. Prepare a traditional (absorption) income statement for Maryville for the month of June. Assume that sales for the month was $2,448,000 and the company's effective income tax rate was 30%. Complete this question by entering your…
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $489,720 and direct labor hours would be 48,972. Actual factory overhead costs incurred were $511,421, and actual direct labor hours were 53,273. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? a.$21,309 overapplied b.$43,010 underapplied c.$532,730 overapplied d.$21,309 underapplied
Lonestar Corporation has the following information for the year: Materials placed into production Indirect labor Direct labor (10,000 hours) Depreciation of factory building Other factory overhead Increase in work-in-process inventory $140,000 40,000 160,000 60,000 100,000 30,000 Factory overhead is applied at a predetermined overhead rate of $18 per direct labor hour. What is the amount of under- or overapplied overhead for Lonestar Corporation for the year? Oa. $20,000 underapplied Ob. $40,000 underapplied Oc. $40,000 overapplied Od. $20,000 overapplied