MANAGERIAL ACCOUNTING F/MGRS.
6th Edition
ISBN: 9781264100590
Author: Noreen
Publisher: RENT MCG
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Question
Chapter 3, Problem 3.23P
To determine
Concept introduction:
Predetermined
Predetermined overhead allocation is a method of allocation of overhead costs to the product units. Under this method, the overhead costs are allocated to the product units using the allocation base. The allocation base is identified based on the type of production activities.
Requirement-1:
To calculate: The amount of overhead cost assigned to job W.
To determine
Concept introduction:
Predetermined overhead allocation:
Predetermined overhead allocation is a method of allocation of overhead costs to the product units. Under this method, the overhead costs are allocated to the product units using the allocation base. The allocation base is identified based on the type of production activities.
Requirement-2:
To indicate: The way the cost of job W cost sheet shall be reported in the financial statement at the end of the year.
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iv) What is balance on the Cost of Goods Sold account after the adjustmentv) Calculate the gross profit earned by Harriott on the jobs completed.vi) Determine the balance in work in process inventory on November 30
How much is total cost of goods manufactured?
A company uses job order costing. At the beginning of February, two jobs were in process:
Job 769
Job 772
Materials
P4,000
P1,400
2,000
3,000
There was no inventory of finished goods on February 1. During the month, Jobs 773, 774, 776, 778 and 779 were started.
Materials requisitions for February totaled P26,000, direct labor cost, P20,000 and actual factory overhead, P32,000.
Factory overhead is applied at a rate of 150% of direct labor cost. The only job still in process at the end of February is job
779, with a materials cost of P2,800 and direct labor cost of P1,800. Job 776, the only finished job on hand at the end of the
Direct Labor
600
Applied Factory Overhead
900
month, has a total cost of P4,000.
Provide this question solution general accounting
Chapter 3 Solutions
MANAGERIAL ACCOUNTING F/MGRS.
Ch. 3 - Prob. 3.1QCh. 3 - Prob. 3.2QCh. 3 - Prob. 3.3QCh. 3 - Prob. 3.4QCh. 3 - Prob. 3.5QCh. 3 - Prob. 3.6QCh. 3 - Prob. 3.7QCh. 3 - Prob. 3.8QCh. 3 - Prob. 3.9QCh. 3 - Prob. 3.10Q
Ch. 3 - Prob. 3.11QCh. 3 - Prob. 3.12QCh. 3 - Prob. 3.13QCh. 3 - Prob. 1AECh. 3 - Prob. 1TF15Ch. 3 - Prob. 3.1ECh. 3 - Prob. 3.2ECh. 3 - Prob. 3.3ECh. 3 - Prob. 3.4ECh. 3 - Prob. 3.5ECh. 3 - Prob. 3.6ECh. 3 - Prob. 3.7ECh. 3 - Prob. 3.8ECh. 3 - Prob. 3.9ECh. 3 - Prob. 3.10ECh. 3 - Prob. 3.11ECh. 3 - Prob. 3.12ECh. 3 - Prob. 3.13ECh. 3 - Prob. 3.14ECh. 3 - Prob. 3.15ECh. 3 - Prob. 3.16PCh. 3 - Prob. 3.17PCh. 3 - Prob. 3.18PCh. 3 - Prob. 3.19PCh. 3 - Prob. 3.20PCh. 3 - Prob. 3.21PCh. 3 - Prob. 3.22PCh. 3 - Prob. 3.23PCh. 3 - Plantwide versus Multiple Predetermined Overhead...Ch. 3 - Prob. 3.25PCh. 3 - Prob. 3.26C
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