The following information has been provided by Charity Company: Cost of goods manufactured P 7,500,000 Work-in-process, beginning 1,200,000 Work-in-process, ending 1,400,000 Direct labor 4,000,000 Materials used in production 1,500,000 What is the amount of Factory Overhead? Group of answer choices P 2,200,000 P 5,500,000 P 1,400.000 P 2,000,000

The following information has been provided by Charity Company: Cost of goods manufactured P 7,500,000 Work-in-process, beginning 1,200,000 Work-in-process, ending 1,400,000 Direct labor 4,000,000 Materials used in production 1,500,000 What is the amount of Factory Overhead? Group of answer choices P 2,200,000 P 5,500,000 P 1,400.000 P 2,000,000

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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Product Cost Flows Complete the following T-accounts: Materials Inventory 1,120 Answer Answer 18,120 250 Wages Payable 9,000 1,050 Finished Goods Inventory 1,500 Answer Answer 1,200 Manufactured Overhead 175 Answer Answer 18,000 4,500 0 Work in Process Inventory 3,500 Answer Answer 9,000 Answer 500 Cost of Goods Sold Answer Save AnswersNext
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services SQU Libraries SQU Portal Attendance English (en O b. OMR605 O c. OMR545 O d. OMR635 O e. OMR575 XYZ Company provided the following information regarding Product XY: Direct material costs OMR3 per unit of product; Direct labor costs OMR5 per direct labor hour; Predetermined overhead rate OMR10 per direct labor hour. The cost of a job for 550 units of product XY, which uses a total of 100 direct labor hours, is: Select one: Oa. OMR5,400 Ob. OMR3,300 Oc. OMR3,150 Od. None of the answers given e. OMR9,900 Total manutacturing costs assioned inclucted 10 units heom ofs tota mana
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sequential method please Chekov Company has two support departments, Human Resources and General Factory, and two producing departments, Fabricating and Assembly. Direct costs Normal activity: Number of employees Square footage Human Resources General Factory Support Departments Human Resources $160,000 1,200 Direct costs Allocate: General Factory $330,000 General Factory Human Resources Total after allocation 40 Human Resources Producing Departments Fabricating Assembly The costs of the Human Resources Department are allocated on the basis of number of employees, and the costs of General Factory are allocated on the basis of square footage. Now assume that Chekov Company uses the sequential method to allocate support department costs. The support departments are ranked in order of highest cost to lowest cost. Required: $114,400 1. Calculate the allocation ratios (rounded to four significant digits) for the four departments using the sequential method. If an amount is zero, enter "0".…
INA TOLOWING ASTIMATAS that are relate to the operation menanments is as Thin Required information Number of employees Number of customers Number of billable hours Total overhead cost Multiple Choice O O O $37,200 $292,200 The Company uses the step method for cost allocation as the administrative service department also provides services to the machine maintenance department. Assume that costs are allocated between service departments based on the # of employees. Using the information provided, what is the total amount of machine maintenance cost that will be allocated to the operating departments? Note: Round your intermediate calculations to the nearest whole dollar. $92,000 properties 40 125 $124,000 3,000 $ 455,000 properties 20 160 2,000 $ 374,000 Maintenance 15 n/a n/a n/a Total 75 285 5,000 $ 829,000
Beginning direct materials Beginning finished goods Beginning work in process Selling & administrative expenses Gross profit Cost of goods manufactured Factory overhead Direct labor $20,900 32,000 21,200 17,000 42,000 328,000 ? Direct materials purchases Ending direct materials Ending work in process Ending finished goods 124,100 24,800 16,500 40,000 Manufacturing costs incurred =
Estimated Estimated Cost Drivers Activity Cost Overhead Street Mountain Pools Costs Tires Tires Machine set ups $ 90,000 150 350 Assembling $500,000 25,000 15,000 Inspection $400,000 180 320 Question Using the activity-based costing approach, determine the applied overhead rates for Darter Company.
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Determine the missing amount for each letter. Total ifacturing Costs 431600 (a) 567,000 333,900 363,800 Tauthook and Media Work in Process Jan. 1 $40,200 541800 (d) 75,600 EA $ Work in Process Dec. 31 (b) 50,400 100,800 Cost of Goods Manufactured $453,600 592,200 176400 (f) 56,700 283500 (h) 340,200
Balances: Beginning Ending Direct materials 13,5007 300 Work in process inventory 0 3,400 Finished goods inventory 0 5,100 Other information: Direct materials purchase 36,000 Plant expenses 19,000 Sales salaries 6,200 Delivery of items sold 1,100 Net sales revenue 108,500 Customer hotline costs 4,800 Direct labor 24,000 Create a Schedule of Cost of Good Manufactured. Create an Income Statement.