8 Marks, 10 minutes DEF Inc has collected the following data about its inventory and operations over the past year It applies overhead on the basis of direct labour hours, at a pre determined rate Unfortunately, DEF's senior accountant has fallen ill, and they have asked you to complete the year end reporting Required a b Work in process inventory Finished goods inventory C Direct labour Direct materials used Actual manufactured overhead costs incurred Jan 1, 20x3 Dec 31, 20x3 $ 14,000 $ 18,600 $ 53,100 $ 58,000 The direct labour rate, on average, is $22 per hour At the beginning of the year, the accountant had estimated the company would use 9,000 labour hours and incur $54,000 in manufacturing overhead $ $ $ 211,600 84,200 51,200 Prepare a Schedule of Cost of Goods Manufactured for the year ended December 31, 20x3 Calculate the Cost of Goods sold for the year ended December 31, 20x3 Calculate the over under applied overhead DEF Inc has collected the following data about its inventory and operations over the past year It applies overhead on the basis of direct labour hours, at a pre determined rate Unfortunately, DEF's senior accountant has fallen ill, and they have asked you to complete the year end reporting The direct labour rate, on average, is $22 per hour At the beginning of the year, the accountant had estimated the company would use 9,000 labour hours and incur $54,000 in manufacturing overhead Required a Prepare a Schedule of Cost of Goods Manufactured for the year ended December 31, 203 b Calculate the Cost of Goods sold for the year ended December 31, 203 c Calculate the over under applied overhead

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8 Marks, 10 minutes DEF Inc  has collected the following data about its inventory and operations over the past year  It applies overhead on the basis of direct labour hours, at a pre determined rate  Unfortunately, DEF's senior accountant has fallen ill, and they have asked you to complete the year end reporting  Required  a  b  Work in process inventory Finished goods inventory C  Direct labour Direct materials used Actual manufactured overhead costs incurred Jan 1, 20x3 Dec 31, 20x3 $ 14,000 $ 18,600 $ 53,100 $ 58,000 The direct labour rate, on average, is $22 per hour  At the beginning of the year, the accountant had estimated the company would use 9,000 labour hours and incur $54,000 in manufacturing overhead  $ $ $ 211,600 84,200 51,200 Prepare a Schedule of Cost of Goods Manufactured for the year ended December 31, 20x3  Calculate the Cost of Goods sold for the year ended December 31, 20x3  Calculate the over under applied overhead  DEF Inc  has collected the following data about its inventory and operations over the past year  It applies overhead on the basis of direct labour hours, at a pre determined rate  Unfortunately, DEF's senior accountant has fallen ill, and they have asked you to complete the year end reporting  The direct labour rate, on average, is $22 per hour  At the beginning of the year, the accountant had estimated the company would use 9,000 labour hours and incur $54,000 in manufacturing overhead  Required  a  Prepare a Schedule of Cost of Goods Manufactured for the year ended December 31, 203  b  Calculate the Cost of Goods sold for the year ended December 31, 203  c  Calculate the over under applied overhead

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8 Marks, 10 minutes DEF Inc. has collected the following data about its inventory and operations over the past year. It applies overhead on the

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