Selected accounts with some amounts omitted are as follows: Work in Process Oct. 1 Balance 22,400 Oct. 31 Goods finished X 31 Direct materials 93,200 31 Direct labor 180,500 31 Factory overhead X Finished Goods Oct. 1 Balance 15,000 31 Goods finished 319,700 If the balance of Work in Process on October 31 is $198,600, what was the amount of factory overhead applied in October? a. $93,200 b. $222,200 c. $180,500 d. $401,500

Selected accounts with some amounts omitted are as follows: Work in Process Oct. 1 Balance 22,400 Oct. 31 Goods finished X 31 Direct materials 93,200 31 Direct labor 180,500 31 Factory overhead X Finished Goods Oct. 1 Balance 15,000 31 Goods finished 319,700 If the balance of Work in Process on October 31 is $198,600, what was the amount of factory overhead applied in October? a. $93,200 b. $222,200 c. $180,500 d. $401,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Selected accounts with a credit amount omitted are as follows Work in Process Apr. 1 Balance 7,000 Apr. 30 Goods finished X 30 Direct materials 61,300 30 Direct labor 190,800 30 Factory overhead 57,240 Finished Goods Apr. 1 Balance 16,000 30 Goods finished 307,800 What was the balance of Work in Process as of April 30?
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Selected accounts with some amounts omitted are as follows: Work in Process Oct. 1 Balance 24,100 Oct. 31 Goods finished 31 Direct materials 90,700 31 Direct labor 160,500 31 Factory overhead Finished Goods Oct. 1 Balance 12,000 31 Goods finished 333,200 If the balance of Work in Process on October 31 is $199,000, what was the amount of factory overhead applied in October? Oa. $160,500 b. $256,900 Oc. $383,600 Od. $90,700
Question 1 Zulfiqar Inc. has provided the following data for the month of September. 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 4,020 12,810 22,890 39,720 Direct labor 4,760 17,080 30,520 52,360 Manufacturing overhead applied 3,220 7,130 12,650 23,000 Total 12,000 37,020 66,060 115,080 Manufacturing overhead for the month was underapplied by Rs. 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. Calculate amount of work in process inventory at the end of September after allocation of any underapplied or overapplied manufacturing…
Selected accounts with some amounts omitted are as follows: Work in Process Date Transaction Debit amount Date Transaction Credit amount Aug. 1 Balance 279, 100 Aug. 31 Goods finished 190, 700 31 Direct materials X 31 Direct labor 47, 400 31 Factory overhead X Factory Overhead Date Transaction Debit amount Date Transaction Credit amount Aug. 1-31 Costs incurred 113,000 Aug. 1 Balance 12, 100 31 Applied X If the balance of Work in Process on August 31 is $196, 400, what was the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs? a. $190, 700 b. $12, 100 c. $113, 000 d. $14, 220
Selected accounts with some amounts omitted are as follows: Work in Process Aug. 1 Balance 260,440 Aug. 31 Goods finished 164,150 31 Direct materials X 31 Direct labor 34,700 31 Factory overhead Factory Overhead Aug. 1-31 Costs incurred 97,500 Aug. 1 31 Balance Applied (30% of direct labor cost) 13,840 X If the balance of Work in Process on August 31 is $208,070, what was the amount debited to Work in Process for direct materials in August? a. $339,060 b. $87,070 c. $66,670 Od. $503,210
Problem 3: Lederman Inc. has provided the following data for the month of April: Beginning $12,000 $27,000 Inventories Work in process... Finished goods.... Additional Information: Direct materials.. Direct labor costs.. Manufacturing overhead cost incurred...... Manufacturing overhead cost applied to WIP Required: a. Determine costs of goods manufactured for april b. Was the overhead underapplied or overapplied? By how much? $51,000 $91,000 Ending $16,000 $25,000 $60,000 $59,000
Selected accounts with a credit amount omitted are as follows Work in Process Apr. 1 Balance 6,600 Apr. 30 Goods finished X 30 Direct materials 69,800 30 Direct labor 193,900 30 Factory overhead 58,170 Finished Goods Apr. 1 Balance 15,600 30 Goods finished 307,900 What was the balance of Work in Process as of April 30? a.$58,170 b.$15,600 c.$20,570 d.$307,900
2. The company incurred factory overhead cost as follows: Indirect materials $ 28,300Indirect labor 52,300Factory Utilities cost 6,000Factory Depreciation 10,200Journalize the entry to record the actual factory overhead incurred during February.
If the balance of Work in Process on August 31 is $220,000, what was the amount debited to Work in Process for direct materials in August? a.$390,000 b.$525,000 c.$580,000 d.$170,000
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