E-LEARNING SERVICES -SQU LIBRARIES -SQU PORTALMIC)ATTENDANCETime left 1:1T3:17QuizXYZ Co. has provided the following data for the month of June. There wereno beginning inventories; consequently, the direct materials, direct labor,and manufacturing overhead applied listed below are all for the currentmonth.RuwWork In12Process Finished GoodsCost of Goods SoldDirect materialsOMR 3,4400MR 8,450MR61,880Direct laborOMR 6,1600MR 16,2500MR119,000Manufacturingoverhead appliedOMR 3,3000MR 6,050 OMR45,000Manufacturing overhead for the month was underapplied by OMR 7,000.The company allocates any underapplied or overapplied manufacturingoverhead among work in process, finished goods, and cost of goods sold atthe end of the month on the basis of the manufacturing overhead appliedFinisduring the month in those accounts.The cost of goods sold for June after allocation of any underapplied oroverapplied manufacturing overhead for the month is (rounded to nearesthp

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Description: E-LEARNING SERVICES -SQU LIBRARIES -SQU PORTALMIC)ATTENDANCETime left 1:1T3:17QuizXYZ Co. has provided the following data for the month of June. There wereno beginning inventories; consequently, the direct materials, direct labor,and manufacturing o

Journal entries refers to the process of documenting the financial transactions of a company in its…

Business

Accounting

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.

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.

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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Required information [The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departments-Molding and Fabrication. It started, completed, and sold only two jobs during March- Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Direct materials. Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $ 17,160 $ 27,720 2,210 790 3,000 Unit product cost Job Q $ 10,560 $ 9,900 1,060 1,220 2,280 Molding 3,300 $ 13,200 $ 1.40 Fabrication 1,980 $ 19,800 $ 2.20 - Total 5,280 $ 33,000 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month.…
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Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departments-Molding and Fabrication. It started, completed, and sold only two jobs during March- Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job Job. 0 $0,000 $7,500 $13,000 $ 21,000 1,700 600 2,300 000 900 1,700 Holding Fabrication Total 2,500 1,500 4,000 $10,000 $15,000 $25,000 $2.20 $ 1.40 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. A Required: For questions 1 to 9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-…
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