Question
Based on the T-Accounts below, answer the following questions: Work in Process Wages Payable Finished Goods Inventory 185,000 415,000 145,000 145,000 415000 385,000 125,000 170,000
- Based on the T-Accounts below, answer the following questions:
| Work in Process | Wages Payable | Finished Goods Inventory | |||||
| 185,000 | 415,000 | 145,000 | 145,000 | 415000 | 385,000 | ||
| 125,000 |
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| 170,000 |
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| Raw Materials Inventory | Manufacturing Overhead | |||
| 250,000 | 50,000 | 170,000 | ||
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| 235,000 | 20,000 | ||
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| 105,000 | |||
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- What is the cost of direct materials used?
- What is the cost of indirect materials used?
- What is the cost of direct labour?
- What is the cost indirect labour?
- What is the cost of goods manufactured?
- What is the cost of good sold?
- What is the actual manufacturing overhead?
- How much manufacturing overhead was allocated to jobs?
- Is manufacturing overhead over or under-allocated? By how much?
- Assuming Direct Labour as the cost driver, what is the predetermined manufacturing overhead rate as a % of labour cost?
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Accounting In A Nutshell Accounting For The Non-specialist
Authors: Walker, Janet
3rd Edition
075068738X, 9780750687386
