31. Comprehensive Job Costing LO2, 4, 5 Moody Blues Chocolate Factory uses job costing to cost its products. In its first quarter of operations, the company incurred the following material and labor costs in manufacturing a batch of its chocolate candies (the company uses normal costing to apply overhead to products and uses machine hours as the cost driver): Materials data: Direct material purchases $100,000 Direct materials used in production (cost) 85,000 Labor data: Direct labor costs 60,000 Manufacturing overhead data: Overhead application rate per machine hour 9.00 Machine hours used 10,000 Inventory data: Transferred to finished goods 210,000 Cost of goods sold during quarter 190,000 Required A. Calculate the direct materials ending inventory. B. Calculate the work in process ending inventory. C. Calculate the finished-goods ending inventory. D. At the end of the quarter, Moody Blues' actual manufacturing overhead costs totaled $80,000. Calculate the over- or underapplied overhead for the period.37. Process Costing Using the FIFO abson & Corich Method LOO, 7 method to compute Riley's Paper Company manufactures computer paper for laser printers. The following information is How many units were related to production costs incurred in the manufac Required turing process during the month of March: & How many equivalent Reams of Production Paper Costs December? What is the cost per Beginning work in process a. What is the cost of th (40% complete) 35,000 $ 89,170 What is the cost of th Current-period production 93,000 394,830 the blending departn Ending work in process (65% complete) 20,000 cost of goods manufa The company uses the FIFO method of computing A Comprehensive Proc equivalent units and assigning product costs. Pro- duction costs include both the cost of raw materials All Method LOG, and conversion costs that are incurred uniformly in A's Bakery bakes apple the production process. kery stores. The compan Required proces costing to accou March? A. How many reams of paper were completed in titersit produces, Raw B. Of the reams of paper completed in March, how wing, apples) and con month? many were started and completed during the became rate during the C. How many equivalent finished units did the com- Tu Al'sBakery are as fo pany complete in March? D. What is the cost per equivalent unit? E. Calculate the cost of the ending work in process March. inventory and the cost of goods manufactured in