SolutionsJan3031

SolutionsJan3031 - Exercise 3-4 (15 minutes) a. Raw...

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Exercise 3-4  (15 minutes) a. Raw Materials. ........................ 86,000 Accounts Payable. ......... 86,000 b. Work in Process. ..................... 72,000 Manufacturing Overhead. ....... 12,000 Raw Materials. ............... 84,000 c. Work in Process. ..................... 105,00 0 Manufacturing Overhead. ....... 3,000 Wages Payable. ............ 108,00 0 d. Manufacturing Overhead. ....... 197,00 0 Various Accounts. ......... 197,00 0
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Exercise 3-5  (10 minutes) Actual direct labor-hours. ......................... 12,600 × Predetermined overhead rate. ..............       $23.10     = Manufacturing overhead applied. .......... $291,060
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Exercise 3-6  (15 minutes) 1. Actual manufacturing overhead costs. ............ $ 48,000 Manufacturing overhead applied: 10,000 MH × $5 per MH. ..............................       50,000     Overapplied overhead cost. ............................. $ 2,000 2. Direct materials: Raw materials inventory, beginning. ............. $ 8,000 Add purchases of raw materials. ..................   32,000     Raw materials available for use. ................... 40,000 Deduct raw materials inventory, ending. .......       7,000     Raw materials used in production. ................ $ 33,000 Direct labor. ..................................................... 40,000 Manufacturing overhead cost applied to work  in process. ....................................................       50,000     Total manufacturing cost. ................................ 123,000 Add: Work in process, beginning. ....................           6,000     129,000 Deduct: Work in process, ending. ....................           7,500     Cost of goods manufactured. .......................... $121,500
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Exercise 3-15  (15 minutes) 1. Milling Department: Estimated total manufacturing overhead cost Predetermined = overhead rate
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This note was uploaded on 05/08/2008 for the course BUAD 250B taught by Professor Jackson during the Spring '07 term at USC.

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SolutionsJan3031 - Exercise 3-4 (15 minutes) a. Raw...

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