Gudemaranahalli G-Accounting 225-Assign 1-7

Gudemaranahalli G-Accounting 225-Assign 1-7 - 100,000...

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Problem 2-21A 1 Part A. Predeteremined overhead rate = manufactured overhead cost/est. direct material cost = 360,000/288,000 = 1.25 1 Part B Overhead – Estimated = 503,250 – 360,000 = 143,250 2. Direct Materials Beg raw materials inventory $ 4,000 Add: purchases of raw materials 450,000 Total raw materials available 454,000 deduct: ending raw materials inventory 39,000 raw materials used in production $ 415,000 direct labor 65000 manufacturing overhead Work in process 518,750 Total Manufacturing costs 998,750 add: beg work in process inventory
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Unformatted text preview: 100,000 1,098,750 deduct: ending work in process inventory 45,000 cost of goods manufactured $1,053,75 0 Part 3 Cost of Goods Sold Finished goods inventory, beg 300,000 ADD: cost of goods manifactured $ 1,053,750 Goods available for sale 1,353,750 Ded: finished goods inv, end 280,000 COGS $ 1,073,750 Part 4 (4000+4000 + 1500 ) * 12% = 1140 I am using the beg amount, that’s why I have 4000 + 4000 Part 5. Manufacture overhead applied = 1.25 * 18,000 = 22,5000 Direct labor = 45,000 – 18,000 – 22,500 = 4500...
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