1 Logan Products computes its predetermined overhead rate annually on the basis of direct labor hours At the beginning of the year, it estimated that 45,000 direct labor hours would be required for the period's estimated level of production The company also estimated $519,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $2 00 per direct labor hour Logan's actual manufacturing overhead for the year was $686,292 and its actual total direct labor was 45,500 hours Predetetrmined overhead rate per DLH 2 Kirkaid Company recorded the following transactions for the just completed month a $106,000 in raw materials were requisitioned for use in production Of this amount, $83,000 was for direct materials and the remainder was for indirect materials b Total labor wages of $130,000 were incurred Of this amount, $116,000 was for direct labor and the remainder was for indirect labor c Additional actual manufacturing overhead costs of $208,000 were incurred d A total of $249,000 in manufacturing overhead was applied to jobs Required Determine the underapplied or overapplied overhead for the month manufacturing overhead 3 Uxmaiz Corporation had only one job in process during MayJob X32Zand had no finished goods inventory on May 1 Job X32Z was started in April and finished during May Data concerning that job appear below Job X32Z Beginning balance $ 5,700 Charged to the job during May Direct materials $ 9,000 Direct labor $ 2,700 Manufacturing overhead applied $ 4,700 Units completed 170 Units in process at the end of May 0 Units sold during May 75 In May, overhead was overapplied by $370 The company adjusts its cost of goods sold every month for the amount of the overhead that was underapplied or overapplied Required 1 Using the direct method, what is the cost of goods sold for May cost of goods sold 2 What is the total value of the finished goods inventory at the end of May Total cost of ending finished goods inventory 3 What is the total value of the work in process inventory at the end of May Ending work in process inventory

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1. Logan Products computes its predetermined overhead rate annually on the basis of direct labor hours. At the beginning of the year, it estimated that

1. Logan Products computes its predetermined overhead rate annually on the basis of direct labor hours. At the beginning of the year, it estimated that 45,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $519,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Logan's actual manufacturing overhead for the year was $686,292 and its actual total direct labor was 45,500 hours.

Predetetrmined overhead rate _______ per DLH

2. Kirkaid Company recorded the following transactions for the just completed month:

	a. $106,000 in raw materials were requisitioned for use in production. Of this amount, $83,000 was for direct materials and the remainder was for indirect materials.
	b. Total labor wages of $130,000 were incurred. Of this amount, $116,000 was for direct labor and the remainder was for indirect labor.
	c. Additional actual manufacturing overhead costs of $208,000 were incurred.
d.	A total of $249,000 in manufacturing overhead was applied to jobs.

Required:

Determine the underapplied or overapplied overhead for the month.

___________ manufacturing overhead _____________

3. Uxmaiz Corporation had only one job in process during MayJob X32Zand had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below:

	Job X32Z
Beginning balance	$	5,700
Charged to the job during May
Direct materials	$	9,000
Direct labor	$	2,700
Manufacturing overhead applied	$	4,700
Units completed		170
Units in process at the end of May		0
Units sold during May		75

In May, overhead was overapplied by $370. The company adjusts its cost of goods sold every month for the amount of the overhead that was underapplied or overapplied.

Required:

Using the direct method, what is the cost of goods sold for May?

cost of goods sold: ______________

2. What is the total value of the finished goods inventory at the end of May?

Total cost of ending finished goods inventory: ___________

3. What is the total value of the work in process inventory at the end of May?

Ending work in process inventory: _____________