Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

#1 #2 (Show caculation) #3 #4 #5 #6 Accountants Inc. had prime costs of $500,000 and conversion costs of $825,000. If direct materials were $375,000

#1 image text in transcribed
#2
image text in transcribed(Show caculation)
#3
image text in transcribed
#4
image text in transcribed
#5
image text in transcribed
#6
image text in transcribed
Accountants Inc. had prime costs of $500,000 and conversion costs of $825,000. If direct materials were $375,000 and overhead was $700,000, how much was direct labor? A company had the following balances: Sales $200,000 Cost of Goods Manufactured $175,000 Cost of Goods Sold $130,000 Selling Expense $28,000 General and Admin Expenses $30,000 Direct Labor $60,000 Calculate the Net Income Jackets, Inc estimated overhead at $250,000, direct labor at $100,000, and direct materials at $125,000. Jackets, Inc. uses direct materials as the basis for allocating overhead. Calculate the predetermined overhead rate (POHR). 1 H Book It, Inc. uses a predetermined overhead rate of 150% of direct labor based on estimated overhead of $450,000 and estimated direct labor of $300,000. Job 199A incurred $100,000 of direct labor costs. How much overhead should be applied to this job? If a company had $15,000 of over-applied overhead that is determined to be an immaterial amount, select the appropriate entry required. Debit Cost of Goods Sold and Credit Factory Overhead O Debit Overhead and Credit Finished Goods Inventory Debit Cost of Goods Sold and Credit Finished Goods Inventory O Debit Overhead and Credit Cost of Goods Sold Attempt due: 1 Hour, 43 N My Company uses the weighted average method for process cost accounting. My Company had 20,000 units in Beginning Work in Process Inventory. We started 150,000 units this period. Ending Work in Process Inventory has 60,000 units. Calculate the units completed and transferred this period

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services A Systematic Approach

Authors: William Messier, Steven Glover, Douglas Prawitt

5th Edition

007333720X, 9780073337203

More Books

Students also viewed these Accounting questions

Question

develop your skills of project planning.

Answered: 1 week ago

Question

evaluate different research strategies;

Answered: 1 week ago