Overhead rate equals 200% of Direct Labor CostsWork in Progress InventoryFactory OverheadBeginning WIPDirect Materials55000143000145000?Direct Labor?Applied Overhead?To finished goods?Ending Work In Progress65000Finshed Goods InventoryBeginning Finished Goods45000270000275000Ending Finshed Goods40000Find missing Numbers

Name: Overhead rate equals 200% of Direct Labor CostsWork in Progress Inven
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Overhead rate equals 200% of Direct Labor CostsWork in Progress InventoryFactory OverheadBeginning WIPDirect Materials55000143000145000?Direct Labor?Applied Overhead?To finished goods?Ending Work In Progress65000Finshed Goods InventoryBeginning Fini

Beginning WIP =55000Direct labour =145000200%=72500Applied overhead =72500×200%=145000WIP completed…

Business

Accounting

Overhead rate equals 200% of Direct Labor Costs Work in Progress Inventory Factory Overhead Beginning WIP Direct Materials Direct Labor 55000 143000 145000 ? Applied Overhead ? To finished goods Ending Work In Progress ? 65000 Finshed Goods Inventory Beginning Finished Goods 45000 270000 275000 Ending Finshed Goods 40000 Find missing Numbers

Overhead rate equals 200% of Direct Labor Costs Work in Progress Inventory Factory Overhead Beginning WIP Direct Materials Direct Labor 55000 143000 145000 ? Applied Overhead ? To finished goods Ending Work In Progress ? 65000 Finshed Goods Inventory Beginning Finished Goods 45000 270000 275000 Ending Finshed Goods 40000 Find missing Numbers

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

* Question Completion Status: Mon Inc. a manufacturer of jewellery reported the following last month Assembly line, jewellery manufacturing salaries Finished goods inventory, beginning Finished goods inventory, ending General & administrative expenses Indirect materials requisitioned to factory Production Supervisor, Salary Purchases of raw materials Raw materials inventory, ending Raw materials inventory, beginning Rent on production factory Rent, retail store Sales Utilities on manufacturing factory Utilities, retail store Wages, retail staff WIP inventory, beginning WIP inventory, ending Assume the Manufacturing Overhead is perfectly applied. Answer the following questions. NO COMMAS, NO $ What is the cost of raw materials used in production? What is Direct Labour? What is Manufacturing Overhead? What is the Total Manufacturing Costs? O What is the Cost of Goods Manufactured? Type here to search 18,000 17,000 20,000 22,000 17,500 21,000 28,000 19,000 18,000 19,000 18,000 200,000…
Please do not give solution in image format thanku
Question Content Area Complete this production cost report: Enter all amount as positive values. If required round "Cost per unit" answers to two decimal place. Production Cost Report Beginning inventory 21,000 Started during the month 76,000 Total units to account for fill in the blank 1 Completed and transferred out 73,000 Ending work in process fill in the blank 2 Total units to account for fill in the blank 3 Work in process completion percent 100% 25% Materials Units Conversion Units Total Units Completed and transferred out 73,000 73,000 73,000 Ending work in process fill in the blank 4 fill in the blank 5 fill in the blank 6 Total units to account for fill in the blank 7 fill in the blank 8 fill in the blank 9 Costs to account for Materials Conversion Total Beginning work in process $3,500 $16,000 $19,500 Transferred in — — — Incurred during the period 25,600 47,200 72,800 Total costs…
please help me to solve this problem
* Question Completion Status: QUESTION 25 The following data (in thousands of dollars) have been taken from the accounting records of Rudy Corporation for the just completed year. Sales $800 Raw materials inventory - beginning $ 60 $70 Raw materials inventory, ending Purchases of raw materials $180 Direct labor $100 Manufacturing overhead $190 Administrative expenses $110 $150 $70 $80 $120 $160 Selling expenses Work in process inventory beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending The net income for the year (in thousands of dollars) was O $190 $390 O $70 O $130 O $310
answer in text form please (without image)
Question Content Area Laramie Technologies has the following data: Work in process inventory, beginning $45,000 Work in process inventory, ending 32,000 Direct labor costs 56,000 Cost of materials used 50,000 Factory overhead 28,000 Determine the cost of goods manufactured.$fill in the blank 1
Solve this one
Stanford had neither beginning nor ending work-in-process inventory. What was the čóst of jobs completed and transferred to finished qoods in November 20X1? 1. $604,000 3. $620,000 2. $644,000 4. $660,000 ©2016 DeVry/Becker Educational Development Corp. All Rights Reserved. Exercises 4-21 (10 min) Job costing, process costing. In each of the following situations, determine whether job costing or process costing would be more appropriate. BECKEB а. А СРА firm b. An oil refinery C. A custom furniture manufacturer I. A landscaping company m. An orange juice concentrate producer ni n. A movie studio 0. A law firm p. A commercial aircraft manufacturer q. A management consulting firm r. A cell phone battery manufacturer S. A catering service t. A paper mill u. A computer repair shop d. A tire manufacturer e. A textbook publisher f. A home builder g. An advertising agency h. A dairy i. A flour mil j. A paint manufacturer k. A nursing home 1-22 Actual costing, normal costing, accounting for…
ces Beginning work in process inventory Units started this period Beginning work in process Direct materials Completed and transferred out Ending work in process inventory Production cost information for the forming department follows. Conversion Costs added this period Direct materials Conversion Total costs to account for Required A Required B Required C Units Costs of beginning work in process Costs added this period Total costs Equivalent units of production (from part a) Cost per equivalent unit of production 320,000 312,000 35,000 $ $ $ 40,000 16,100 Complete this question by entering your answers in the tabs below. 1,660,000 929,300 a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming departm c. Using the weighted average method, assign costs to the forming department's output-specifically, its units…