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SolutionsJan3031

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

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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 Estimated total amount of the allocation base $510,000 = = $8.50 per machine-hour 60,000 machine-hours Assembly Department: Estimated total manufacturing overhead cost Predetermined = overhead rate Estimated total amount of the allocation base $800,000 =
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