I need help showing the work for the following questions, the answers have been provided.

1.Total manufacturing-related costs incurred for ABCompany in August for all jobs is as follows:

Assuming this company uses a normal costing system and applies overhead based on a predetermined rate, what is the credit to Overhead Control to close the account at the end of the year?

Direct materials$ 900

Insurance-factory building150

Direct labor1,200

Property taxes-factory building 400

Other factory overhead costs1,450

Factory overhead applied1,650

Answer is =$350 (Show work)

2.Mayco Inc. manufactures desks.

The following data was given for production in February:

units, beginning work in process

0

units started

200

units completed

?

units, ending work in process (40% complete)

50

If a total of $11,050 in production costs were incurred, what is the unit cost in February?

ANSWER IS =$65(SHOW WORK)

3.ZZZ Products produces two products, X and Y, in a single process. In 2018, the joint costs of this process were $25,000. In addition, 4,000 units of X and 6,000 units of Y were produced. Separable processing costs beyond the split-off point were: X-$10,000; Y-$20,000. X sells for $10.00 per unit; Y sells for $7.50 per unit.

What amount of joint costs will be allocated to product X using the net realizable value net realizable value method?

ANSWER IS =$13,636 (SHOW WORK)

4.18. BBCompany produces and sells mattresses. It expects to sell 10,000 mattresses in the year 2017 and had 1,000 mattresses in finished goods inventory at the end of 2016. This company would like to complete operations in the year 2017 with at least 1,250 completed mattresses in inventory. There is no ending work-in-process inventory. The mattresses sell for $300 each.

How many mattresses would be produced?

ANSWER IS =10,250 mattresses (SHOW WORK)

5.The following forecasted sales pertain to 123 Company:

Month

Sales

June

$160,000

July

200,000

August

120,000

September

80,000

Finished goods inventory as of May 31

6,000 units

This company has a selling price of $5 per unit and expects to maintain ending inventories equal to 25 percent of next month's sales.

What is the budgeted beginning balance in units for finished goods inventory on August 1?

 

Answer rating: 100% (QA)

1 To calculate the credit to Overhead Control to close the account at the end of the year we need to determine the difference between the total overhe... View the full answer