the philips companys actual manufacturing overhead cost for the month ended march 31 was $ 115,000. the companys predetermined overhead rate was 80% of direct labor cost. any over/ under applied overhead is adjusted entirely to COGS. other information pertaining to philips companys onesies and production for the month of march is as follows beginning inventories march 1 direct materials $7,000work in process 51,000finished goods 108,000purchases of direct materials during march 138,000direct labor cost 150,000ending inventories march 31 direct materials 28,000wrk in process 37,000finished goods 98, 000A. how much overhead was applied in march? determine the under applied or over applied overhead for the month B. prepare a schedule of COGS manufactured for the month. C. calculate adjusted COGS for the month

the philips companys actual manufacturing overhead cost for the month ended march 31 was $ 115,000. the companys predetermined overhead rate was 80% of direct labor cost. any over/ under applied overhead is adjusted entirely to COGS. other information pertaining to philips companys onesies and production for the month of march is as follows beginning inventories march 1 direct materials $7,000work in process 51,000finished goods 108,000purchases of direct materials during march 138,000direct labor cost 150,000ending inventories march 31 direct materials 28,000wrk in process 37,000finished goods 98, 000A. how much overhead was applied in march? determine the under applied or over applied overhead for the month B. prepare a schedule of COGS manufactured for the month. C. calculate adjusted COGS for the month

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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