Orion Manufacturing Inc.'s records for June contained the following information: • . Actual direct labor-hours: 10,500 hours Actual direct labor cost: $55,200 Direct material purchased: 19,500 Direct material used: 17,200 Cost of goods sold: $120,000 • • Under applied overhead: $6,500 Ending inventories: о ○ Work-in-process: $12,300 ○ Raw materials: $9,800 Finished goods: $72,500 The company applies manufacturing overhead using a predetermined overhead rate of $4.80 per direct labor hour. What is the actual overhead cost incurred during the month?

Orion Manufacturing Inc.'s records for June contained the following information: • . Actual direct labor-hours: 10,500 hours Actual direct labor cost: $55,200 Direct material purchased: 19,500 Direct material used: 17,200 Cost of goods sold: $120,000 • • Under applied overhead: $6,500 Ending inventories: о ○ Work-in-process: $12,300 ○ Raw materials: $9,800 Finished goods: $72,500 The company applies manufacturing overhead using a predetermined overhead rate of $4.80 per direct labor hour. What is the actual overhead cost incurred during the month?

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 7E: The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units...

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The records of Burris Inc. reflect the following data: Work in process, beginning of month2,000 units one-half completed at a cost of 1,250 for materials, 675 for labor, and 950 for overhead. Production costs for the monthmaterials, 99,150; labor, 54,925; factory overhead, 75,050. Units completed and transferred to stock38,500. Work in process, end of month3,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost.
Baxter Company has two processing departments: Assembly and Finishing. A predetermined overhead rate of 10 per DLH is used to assign overhead to production. The company experienced the following operating activity for April: a. Materials issued to Assembly, 24,000 b. Direct labor cost: Assembly, 500 hours at 9.20 per hour; Finishing, 400 hours at 8 per hour c. Overhead applied to production d. Goods transferred to Finishing, 32,500 e. Goods transferred to finished goods warehouse, 20,500 f. Actual overhead incurred, 10,000 Required: 1. Prepare the required journal entries for the preceding transactions. 2. Assuming Assembly and Finishing have no beginning work-in-process inventories, determine the cost of each departments ending work-in-process inventories.
In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is 3,000,000. The conversion cost for the period in the Rolling Department is 462,600 (275,000 factory overhead applied and 187,600 direct labor). The total cost transferred to Finished Goods for the period was 3,392,400. The Rolling Department had a beginning inventory of 163,800. a. Journalize for the Rolling Department (1) the cost of transferred-in materials, (2) the conversion costs, and (3) the costs transferred out to Finished Goods. b. Determine the balance of Work in ProcessRolling at the end of the period.
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