Comprehensive Problem I - PART II

Comprehensive Problem I - PART II - 57,000.00 Factory...

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Pre-determined FO Rate = Estimates Total Factory Overhead costs/Estimates Acvt $200,000/40,000=$5.00 per Direct Labor Hours(DLH) Factory overhead applied = DLH x Machine Hours 44,000 x $5.00 = $220,000 A. Baba Company Cost of Goods Manufactured Schedule For the Year Ended December 31, 20XX Work in Process, Beginning $52,000.00 Direct Materials: Raw Materials Inventory, Beginning 22,000.00 Raw Materials Purchased 412,000.00 Total Materials Available for use 434,000.00 Less: Raw Material, Ending (25,000.00) Raw Materials used in production 409,000.00 Less: Indirect Materials used (47,000.00) Direct Materials Used in production 362,000.00 Direct Labor 324,000.00 Manufacturing Overhead Applied: 220,000.00 Total manufacturing costs $906,000.00 Less: Work in Process Inventory, Ending $(34,000.00) Cost of goods manufactured $924,000.00 B. Manufacturing Overhead Act. App. Indirect Materials 47,000.00 220,000.00 Indirect Labor
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Unformatted text preview: 57,000.00 Factory Utilities 22,000.00 Factory Depreciation 94,000.00 220,000.00 220,000.00 Balance - The Overhead is neither under or overapplied. C. Baba Company Income Statement For the Month Ended December 31, 20XX Finished Goods Inventory, Beginning 121,000.00 Cost of Goods Manufactured 924,000.00 Cost of Finished Goods Available for Sale 1,045,000.00 Less: Finished Goods, Ending (136,000.00) Cost of Goods Sold 909,000.00 Less: Underapplied or Overapplied Overhead- Cost of Goods Sold 909,000.00 Sales 1,198,000.00 Cost of goods sold 909,000.00 Gross Profit 289,000.00 Gross Profit 289,000.00 Selling and administrative expenses: Sales salaries expense 129,000.00 Office salaries expense 135,000.00 Total selling and administrative expenses 264,000.00 Depreciation 8,000.00 Income from Operations 17,000.00 tivity Base (rate x actual activity usage)...
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This note was uploaded on 02/23/2011 for the course ACG 2071 taught by Professor Hubert during the Spring '10 term at Hillsborough.

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Comprehensive Problem I - PART II - 57,000.00 Factory...

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