90.2K

Verified Solution

Link Copied!

CoursHeroTranscribedText: Module 01 Content Donald Transport assembles prestige manufactured homes. ltsjob-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool (manufacturing overhead allocated at a budgeted $31 per machine-hour in 2014). The following data (in millions) show operation costs for 2021: - Materials Control, beginning balance,January 1, 2021 : $18 - Work-in-Process Control, beginning balance,January 1, 2021 : $9 - Finished Goods Control, beginning balance,]anuary 1, 2021 : $10 - Materials and supplies purchased on credit : $154 - Direct materials used :$152 - Indirect materials (supplies) issued to various production departments: $19 - Direct manufacturing labor: $96 - Indirect manufacturing labor incurred by various production departments: $34 - Depreciation on plant and manufacturing equipment: $28 - Miscellaneous manufacturing overhead incurred (ordinarily would be detailed as repairs, utilities, etc.r with a corresponding credit to various liability accounts): $13 - Manufacturing overhead allocated, 3,000,000 actual machine-hours: ? - Cost of goods manufactured: $298 - Revenues: $410 - Cost of goods sold: $294 1. Prepare journal entries. Number your entries. Explanations for each entry may be omitted. Post to T-accounts. What is the ending balance of Work-in-Process Control? 2. Show the journal entry for disposing of under- or overallocated manufacturing overhead directly as a year-end writeoff to Cost of Goods Sold. Post the entry to T-accounts. 3. How did Donald Transport perform in 2021

Answer & Explanation Solved by verified expert

See Answer