Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2017 Costs and Production Data Standard $2.20 10,100
Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2017 Costs and Production Data Standard $2.20 10,100 $177,600 $173,280 15,200 Actual Raw materials unit cost Raw materials units used Direct labor payrol Direct labor hours worked Manufacturing overhead incurred Manufacturing overhead applied Machine hours expected to be used at normal capacity Budgeted fixed overhead for June Variable overhead rate per machine hour Fixed overhead rate per machine hour $2.40 11,000 14,800 $235,636 $238,336 41,500 $70,550 $3.20 $1.70 Overhead is applied on the basis of standard machine hours. 3.20 hours of machine time are required for each direct labor hour. The jobs were sold for $467,000. Selling and administrative expenses were $36,500. Assume that the amount of raw materials purchased equaled the amount used
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started