Actual costs for the year: Purchase of raw (direct) materials Direct labor cost Manufacturing overhead Inventories: Beginning $ 3,75,000 $5,36,300 $ 3,02,750 $ 15,000 Raw Materials (All Direct) Work in Process Finished Goods Use the data to answer the following. Calculate and dispose of overapplied or underapplied manufacturing overhead. Calculate the cost of goods manufactured and cost of goods sold. Prepare an income statement for a manufacturing firm. 27,875 34,600 Ending $ 11,375 22,350 26,450
Actual costs for the year: Purchase of raw (direct) materials Direct labor cost Manufacturing overhead Inventories: Beginning $ 3,75,000 $5,36,300 $ 3,02,750 $ 15,000 Raw Materials (All Direct) Work in Process Finished Goods Use the data to answer the following. Calculate and dispose of overapplied or underapplied manufacturing overhead. Calculate the cost of goods manufactured and cost of goods sold. Prepare an income statement for a manufacturing firm. 27,875 34,600 Ending $ 11,375 22,350 26,450
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 3SEB: JOURNAL ENTRIES FOR MATERIAL, LABOR, AND OVERHEAD Rich Manufacturing Corporation had the following...
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