Comprehensive Problem I - PART I

Comprehensive Problem I - PART I - Comprehensive Problem I...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Comprehensive Problem I – Worth 50 points Part I – Worth 24 points The Collins Company uses a job-order costing system and applies manufacturing overhead cost to jobs on the basis of the cost of materials used in production. At the beginning of the most recent year, the following estimates were made as a basis for computing the predetermined overhead rate for the year: manufacturing overhead cost, $200,000; direct materials cost, $160,000. The following transactions took place during the year ( all purchases and services were acquired on account ): a. Raw materials purchased, $86,000. b. Raw materials requisitioned for use in production (all direct materials), $98,000. c. Utility costs incurred in the factory, $15,000. d. Salaries and wages incurred as follows: Direct labor, $175,000. Indirect labor, $70,000. Selling and administrative salaries, $125,000. e. Maintenance costs incurred in the factory, $15,000....
View Full Document

This note was uploaded on 02/23/2011 for the course ACG 2071 taught by Professor Hubert during the Spring '10 term at Hillsborough.

Page1 / 4

Comprehensive Problem I - PART I - Comprehensive Problem I...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online