Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

As consultants, we are hired to help the company track and report costs. The following Tableau Dashboard is provided to assist us in our analysis.

image text in transcribed
As consultants, we are hired to help the company track and report costs. The following Tableau Dashboard is provided to assist us in our analysis. INVENTORIES Raw Materials, November 30: $10,000 Raw Materials, December 31: $12,000 Work in process, November 30: $15,000 Work in process, December 31: $20,000 Finished goods, November 30: $2,500 Finished goods, December 31: $10,000 FACTORY OVERHEAD Total Overhead: $42,000 Indirect materials: $5000 Indirect labor: $2000 Other overhead costs: $30,000 SALES, MATERIAL S, AND PAYROLL FOR DECEMBER Factory Payroll {paid with cash): $57,000 Raw materials purchases (paid with cash): $40,000 Sales (received in cash}: $200,000 FREDETERMINED OVERHEAD RATE Predetermined overhead rate based on direct labor cost: 20% 1. Compute cost of direct labor used. 2 Compute cost of direct materials used. 3. Compute cost of goods manufactured. 4. Compute cost of goods sold. (Do not consider underapplied or overapplied overhead) As consultants, we are hired to help the company track and report costs. The following Tableau

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting What The Numbers Mean

Authors: David Marshall, Wayne McManus, Daniel Viele

10th Edition

77729870, 9780077729875

More Books

Students also viewed these Accounting questions

Question

What are two examples of an act of bankruptcy?

Answered: 1 week ago

Question

pls show all work

Answered: 1 week ago

Question

5. How can I help others in the network achieve their goals?

Answered: 1 week ago