Overhead Cost: The cost of indirect material, labor and other expenses is the overhead cost. This cost is not direct as it is not relate to the cost of production directly. The example of overhead cost is administration cost, selling and distribution cost and other. To prepare: The journal entries for December 31 payroll.

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Answer 1

Question

Chapter 4, Problem 4.38P

1.

To determine

Overhead Cost:

The cost of indirect material, labor and other expenses is the overhead cost. This cost is not direct as it is not relate to the cost of production directly. The example of overhead cost is administration cost, selling and distribution cost and other.

To prepare: The journal entries for December 31 payroll.

2.

a

To determine

To compute: The amount of material requisitioned into work in progress (WIP) account.

Given information:

Opening balance of WIP is $6,700.

Closing balance of WIP is $9,000.

Direct manufacturing labor is $4,300.

b.

To determine

To compute: The total amount of direct manufacturing labor recorded in work in progress account.

Given information:

Cost of goods manufactured is $234,000.

The amount of material requisitioned is $11,330.

Overhead cost is 110% of direct manufacturing labor cost.

c.

To determine

To compute: The total amount of manufacturing overhead recorded in work in progress.

Given information:

Direct manufacturing labor is $88,300.

Overhead cost is 110% of direct manufacturing labor.

d.

To determine

To compute: The ending balance of work in process account.

e.

To determine

To compute: The cost of goods sold before adjustment of under or over allocated manufacturing overhead.

3.

To determine

To prepare: The closing journal entry related to manufacturing overhead.

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Answer 2

Question

Chapter 4, Problem 4.38P

1.

To determine

Overhead Cost:

The cost of indirect material, labor and other expenses is the overhead cost. This cost is not direct as it is not relate to the cost of production directly. The example of overhead cost is administration cost, selling and distribution cost and other.

To prepare: The journal entries for December 31 payroll.

2.

a

To determine

To compute: The amount of material requisitioned into work in progress (WIP) account.

Given information:

Opening balance of WIP is $6,700.

Closing balance of WIP is $9,000.

Direct manufacturing labor is $4,300.

b.

To determine

To compute: The total amount of direct manufacturing labor recorded in work in progress account.

Given information:

Cost of goods manufactured is $234,000.

The amount of material requisitioned is $11,330.

Overhead cost is 110% of direct manufacturing labor cost.

c.

To determine

To compute: The total amount of manufacturing overhead recorded in work in progress.

Given information:

Direct manufacturing labor is $88,300.

Overhead cost is 110% of direct manufacturing labor.

d.

To determine

To compute: The ending balance of work in process account.

e.

To determine

To compute: The cost of goods sold before adjustment of under or over allocated manufacturing overhead.

3.

To determine

To prepare: The closing journal entry related to manufacturing overhead.

Expert Solution & Answer

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Answer 3

Question

Chapter 4, Problem 4.38P

1.

To determine

Overhead Cost:

The cost of indirect material, labor and other expenses is the overhead cost. This cost is not direct as it is not relate to the cost of production directly. The example of overhead cost is administration cost, selling and distribution cost and other.

To prepare: The journal entries for December 31 payroll.

2.

a

To determine

To compute: The amount of material requisitioned into work in progress (WIP) account.

Given information:

Opening balance of WIP is $6,700.

Closing balance of WIP is $9,000.

Direct manufacturing labor is $4,300.

b.

To determine

To compute: The total amount of direct manufacturing labor recorded in work in progress account.

Given information:

Cost of goods manufactured is $234,000.

The amount of material requisitioned is $11,330.

Overhead cost is 110% of direct manufacturing labor cost.

c.

To determine

To compute: The total amount of manufacturing overhead recorded in work in progress.

Given information:

Direct manufacturing labor is $88,300.

Overhead cost is 110% of direct manufacturing labor.

d.

To determine

To compute: The ending balance of work in process account.

e.

To determine

To compute: The cost of goods sold before adjustment of under or over allocated manufacturing overhead.

3.

To determine

To prepare: The closing journal entry related to manufacturing overhead.

Expert Solution & Answer

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Answer 4

Question

Chapter 4, Problem 4.38P

1.

To determine

Overhead Cost:

The cost of indirect material, labor and other expenses is the overhead cost. This cost is not direct as it is not relate to the cost of production directly. The example of overhead cost is administration cost, selling and distribution cost and other.

To prepare: The journal entries for December 31 payroll.

2.

a

To determine

To compute: The amount of material requisitioned into work in progress (WIP) account.

Given information:

Opening balance of WIP is $6,700.

Closing balance of WIP is $9,000.

Direct manufacturing labor is $4,300.

b.

To determine

To compute: The total amount of direct manufacturing labor recorded in work in progress account.

Given information:

Cost of goods manufactured is $234,000.

The amount of material requisitioned is $11,330.

Overhead cost is 110% of direct manufacturing labor cost.

c.

To determine

To compute: The total amount of manufacturing overhead recorded in work in progress.

Given information:

Direct manufacturing labor is $88,300.

Overhead cost is 110% of direct manufacturing labor.

d.

To determine

To compute: The ending balance of work in process account.

e.

To determine

To compute: The cost of goods sold before adjustment of under or over allocated manufacturing overhead.

3.

To determine

To prepare: The closing journal entry related to manufacturing overhead.

Expert Solution & Answer

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Answer 5

Chapter 4, Problem 4.38P

1.

To determine

Overhead Cost:

The cost of indirect material, labor and other expenses is the overhead cost. This cost is not direct as it is not relate to the cost of production directly. The example of overhead cost is administration cost, selling and distribution cost and other.

To prepare: The journal entries for December 31 payroll.

2.

a

To determine

To compute: The amount of material requisitioned into work in progress (WIP) account.

Given information:

Opening balance of WIP is $6,700.

Closing balance of WIP is $9,000.

Direct manufacturing labor is $4,300.

b.

To determine

To compute: The total amount of direct manufacturing labor recorded in work in progress account.

Given information:

Cost of goods manufactured is $234,000.

The amount of material requisitioned is $11,330.

Overhead cost is 110% of direct manufacturing labor cost.

c.

To determine

To compute: The total amount of manufacturing overhead recorded in work in progress.

Given information:

Direct manufacturing labor is $88,300.

Overhead cost is 110% of direct manufacturing labor.

d.

To determine

To compute: The ending balance of work in process account.

e.

To determine

To compute: The cost of goods sold before adjustment of under or over allocated manufacturing overhead.

3.

To determine

To prepare: The closing journal entry related to manufacturing overhead.

Answer 6

Chapter 4, Problem 4.38P

1.

To determine

Overhead Cost:

The cost of indirect material, labor and other expenses is the overhead cost. This cost is not direct as it is not relate to the cost of production directly. The example of overhead cost is administration cost, selling and distribution cost and other.

To prepare: The journal entries for December 31 payroll.

Answer 7

Chapter 4, Problem 4.38P

1.

To determine

Overhead Cost:

The cost of indirect material, labor and other expenses is the overhead cost. This cost is not direct as it is not relate to the cost of production directly. The example of overhead cost is administration cost, selling and distribution cost and other.

To prepare: The journal entries for December 31 payroll.

Answer 8

2.

a

To determine

To compute: The amount of material requisitioned into work in progress (WIP) account.

Given information:

Opening balance of WIP is $6,700.

Closing balance of WIP is $9,000.

Direct manufacturing labor is $4,300.

Answer 9

2.

a

To determine

To compute: The amount of material requisitioned into work in progress (WIP) account.

Given information:

Opening balance of WIP is $6,700.

Closing balance of WIP is $9,000.

Direct manufacturing labor is $4,300.

Answer 10

b.

To determine

To compute: The total amount of direct manufacturing labor recorded in work in progress account.

Given information:

Cost of goods manufactured is $234,000.

The amount of material requisitioned is $11,330.

Overhead cost is 110% of direct manufacturing labor cost.

Answer 11

b.

To determine

To compute: The total amount of direct manufacturing labor recorded in work in progress account.

Given information:

Cost of goods manufactured is $234,000.

The amount of material requisitioned is $11,330.

Overhead cost is 110% of direct manufacturing labor cost.

Answer 12

c.

To determine

To compute: The total amount of manufacturing overhead recorded in work in progress.

Given information:

Direct manufacturing labor is $88,300.

Overhead cost is 110% of direct manufacturing labor.

Answer 13

c.

To determine

To compute: The total amount of manufacturing overhead recorded in work in progress.

Given information:

Direct manufacturing labor is $88,300.

Overhead cost is 110% of direct manufacturing labor.

Answer 14

d.

To determine

To compute: The ending balance of work in process account.

Answer 15

d.

To determine

To compute: The ending balance of work in process account.

Answer 16

e.

To determine

To compute: The cost of goods sold before adjustment of under or over allocated manufacturing overhead.

Answer 17

e.

To determine

To compute: The cost of goods sold before adjustment of under or over allocated manufacturing overhead.

Answer 18

3.

To determine

To prepare: The closing journal entry related to manufacturing overhead.

Answer 19

3.

To determine

To prepare: The closing journal entry related to manufacturing overhead.

Answer 20

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Answer 21

Expert Solution & Answer

Answer 22

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Answer 23

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To compute: The amount of material requisitioned into work in progress (WIP) account. Given information: Opening balance of WIP is $6,700. Closing balance of WIP is $9,000. Direct manufacturing labor is $4,300.

To compute: The total amount of direct manufacturing labor recorded in work in progress account. Given information: Cost of goods manufactured is $234,000. The amount of material requisitioned is $11,330. Overhead cost is 110% of direct manufacturing labor cost.

To compute: The total amount of manufacturing overhead recorded in work in progress. Given information: Direct manufacturing labor is $88,300. Overhead cost is 110% of direct manufacturing labor.

To compute: The ending balance of work in process account.

To compute: The cost of goods sold before adjustment of under or over allocated manufacturing overhead.

To prepare: The closing journal entry related to manufacturing overhead.

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Chapter 4 Solutions

To compute: The amount of material requisitioned into work in progress (WIP) account.

Given information:

Opening balance of WIP is $6,700.

Closing balance of WIP is $9,000.

Direct manufacturing labor is $4,300.

To compute: The total amount of direct manufacturing labor recorded in work in progress account.

Given information:

Cost of goods manufactured is $234,000.

The amount of material requisitioned is $11,330.

Overhead cost is 110% of direct manufacturing labor cost.

To compute: The total amount of manufacturing overhead recorded in work in progress.

Given information:

Direct manufacturing labor is $88,300.

Overhead cost is 110% of direct manufacturing labor.