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. - A . Materials Inventory # Debit BB (4/1) 29,000 213,000 Credit Debit 178,000 Cost of Goods Sold Credit 7,500 Work-in-Process Inventory Credit Debit
. - A . Materials Inventory # Debit BB (4/1) 29,000 213,000 Credit Debit 178,000 Cost of Goods Sold Credit 7,500 Work-in-Process Inventory Credit Debit Labor 102,000 EB (4/30) 95,000 Manufacturing Overhead Control Debit Credit 81,500 81,500 Additional information for April follows: The labor wage rate was $30 per hour. During the month, sales revenue was $322,000, and selling and administrative costs were $93,000. This company has no indirect materials or supplies. The company applies manufacturing overhead on the basis of direct labor-hours. Customer returns are discarded and not resold. Finished Goods Inventory Debit Required: a. What was the cost of direct materials purchased in April? b. What was the over- or underapplied manufacturing overhead for April? c. What was the manufacturing overhead application rate in April? BB (4/1) 91,000 297,000 84,300 7,500 Credit Applied Manufacturing Overhead Debit Credit 276,000 91,800 d. What was the cost of products completed during April? e. What was the balance of the Work-in-Process Inventory account at the beginning of April? f. What was the operating profit (or loss) for April? Any over- or underapplied overhead is written off to Cost of Goods Sold.
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