90.2K

Verified Solution

Link Copied!

Balance 1/1 Debits Balance 12/31 Debits Debats Balance 1/1 Debits Balance 12/31 Balance 1/1 Direct materials Direct labor Overhead Balance 12/31 Debits Debit Debit Debit Req 1 to 5 Debit Debit Debit Raw Materials 15.800 Credits 128.808 Req 6 25,000 Manufacturing Overhead 230,000 Credits Work in Process 20,000 90,000 150,000 248,888 1. Cost of raw materials 2 Indirect materials P Factory Wages Payable Credits 185,000 Balance 1/1 Credits Balance 12/31 Finished Goods 40,000 Credits > 60,000 Cost of Goods Sold 3. Indirect labor cost 4. Cost of goods manufactured 5. Unadjusted cost of goods sold Reg 7 Credit Credit Credit Required: 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your answer. 6. If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? Req 8 Credit 7. Was manufacturing overhead underapplied or overapplied? By how much? 8. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $8,000 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Credit Complete this question by entering your answers in the tabs below. Credit 478,888 9,000 180,000 4,000 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your Briswe Show less.A

Requtred: 1. What wos the cost of row materials used in production during the year? 2 How much of the materiols in (1) above consisted of indirect materials? 3. How much of the foctory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unsdjusted cost of goods sold for the year? Do not include any underapplied or overopplied overhead in your answe 6. If overhead is opplied to production on the basis of direct labor cost, whst predetermined overhesd rote was in effect during the year? 7. Wos manufacturing overhead underopplied or overapplied? By how much? 8. Compute the ending balance in Work in Process. Assume thet this bolance consists entirely of goods started during the yeat. If $8,000 of this belance is direct labor cost, how much of it is direct materiols cost? Applied overheod cost? complete this question by entering your answers in the tabs below. 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of gods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? De not inctude any under applied or overapplied overhead in your

Answer & Explanation Solved by verified expert

See Answer