How do I do these calculations. I am unsure if you use beginning wip for...
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How do I do these calculations. I am unsure if you use beginning wip for anything
rx 100 blazers= $ 1.160 Whan ate, costs d rect labor Benny Industries allocates cost. Any overallocated or underallocated overhead is closed to the cost of goods sold at the end of the month. Below is information on job 205 that was in process at the end of the month of October 8. manufacturing overhead at a predetermined rate of 160 % Direct materials $4,000 Direct labor $3,000 Allocated manufacturing overhead $4,800 Jobs 206, 207, and 208 were started in November. Direct materials that were used in November were $26,000 and direct labor costs were $21,000. For the month of November, actual manufacturing overhead was $32,000. The only job still in process on the last day of November was job 104 with the following costs $3,000 for direct materials and $1,500 for direct labor Required: a. Calculate the cost of goods manufacturered for November.Pased/a b. Cal cost of goods sold on November 30. Be sure to label the answer as either overallocated o c. What are the accounting November 30? culate the amount of overallocated or underallocated manufacturing overhead that should be closed to r underallocated entries to close the overallocated or underallocated manufacturing overhead on 241 22
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