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Amy Co. has utilized that job order costing approach. The allocation base for overhead is direct labor hours. Data for the year just ended are
Amy Co. has utilized that job order costing approach. The allocation base for overhead is direct labor hours. Data for the year just ended are as follows: | ||||||||||||||
Estimated total manufacturing overhead cost | $235,000.00 | |||||||||||||
Estimated total direct labor hours | 15000 | |||||||||||||
Actual total direct labor hours | 22760 | |||||||||||||
Actual costs for the year: | ||||||||||||||
Purchase of raw materials (all direct) | $355,000.00 | |||||||||||||
Direct labor cost | $436,500.00 | |||||||||||||
Manufacturing overhead costs | $298,750.00 | |||||||||||||
Inventories | Beginning | Ending | ||||||||||||
Raw materials (all direct) | 14500 | 12000 | ||||||||||||
Work in process | 24500 | 21000 | ||||||||||||
Finished Goods | 33500 | 25300 | ||||||||||||
Use the data to answer the following: | ||||||||||||||
1. Compute applied overhead and determine the amount of underapplied or overapplied overhead | ||||||||||||||
2. a schedule of cost of goods manufactured | ||||||||||||||
3. a schedule of cost of goods sold. | ||||||||||||||
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