Time left 0.36 XYZ Co. has provided the following data for the month of June. 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 Direct materials OMR 3,440 OMR 8,450 OMR 61,880 Direct labor OMR 6,160 OMR 16,250OMR 119,000 Manufacturing overhead applied OMR 3,300 OMR 6,050 OMR 45,650 Manufacturing overhead for the month was overapplied by OMR 7,000. 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 manufacturing overhead applied during the month in those accounts.

Time left 0.36 XYZ Co. has provided the following data for the month of June. 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 Direct materials OMR 3,440 OMR 8,450 OMR 61,880 Direct labor OMR 6,160 OMR 16,250OMR 119,000 Manufacturing overhead applied OMR 3,300 OMR 6,050 OMR 45,650 Manufacturing overhead for the month was overapplied by OMR 7,000. 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 manufacturing overhead applied during the month in those accounts.

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 some amounts omitted are as follows Work in Process Oct. 1 Balance 24,100 Oct. 31 Finished goods X 31 Direct materials 91,500 31 Direct labor 177,600 31 Factory overhead X Finished Goods Oct. 1 Balance 12,700 31 Goods finished 350,900 If the balance of Work in Process on October 31 is $196,800, what was the amount of factory overhead applied in October? a.$91,500 b.$177,600 c.$254,500 d.$398,500
XYZ Co. has provided the following data for the month of June. 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 Cost of Goods Process Finished Goods Sold Direct materials OMR 3,440OMR 8,450 OMR 61,880 Direct labor OMR 6,160OMR 16,250OMR 119,000 Manufacturing overhead applied OMR 3,300OMR 6,050 OMR 45,650 Manufacturing overhead for the month was overapplied by OMR 7,000. The company allocates any underapplied or overapplied W
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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…
Aeldaentos Pte Ltd. has provided the following data for the month of April. 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 $ 7,712 $ 7,395 $ 5,499 $ 20,606 Direct Labor 13,721 14,027 7,778 35,526 Manufacturing Overhead Applied 33,782 53,251 22,124 109,157 Total 55,215 74,673 35,401 165,289 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. Manufacturing overhead for the month was underapplied by $7,847. The Work-in-Process inventory at the end of the month after allocation of any underapplied or overapplied manufacturing overhead for the month is:
Selected accounts with amounts omitted are as follows Work in Process Aug. 1 Balance 279,350 Aug. 31 Goods finished 171,180 31 Direct materials X 31 Direct labor 33,600 31 Factory overhead X Factory Overhead Aug. 1 – 31 Costs incurred 115,090 Aug. 1 Balance 15,610 31 Applied (30% of direct labor cost) X If the balance of Work in Process on August 31 is $206,820, what was the amount debited to Work in Process for direct materials in August? a. $54,970 b. $106,130 c. $519,770 d. $348,590