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Brief Exercise 160 At December 31, Ding Company reported the following unadjusted balances: Cost of Goods Sold Finished Goods Inventory $210,000 30,000 The company's unadjusted
Brief Exercise 160 At December 31, Ding Company reported the following unadjusted balances: Cost of Goods Sold Finished Goods Inventory $210,000 30,000 The company's unadjusted balance in its Manufacturing Overhead account at the same date was a positive $2,800. Using the grid below, enter the unadjusted balances, record the appropriate adjustment for over- or underapplied overhead at December 31, and show the resulting adjusted balances. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Work in Process Inventory Finished Goods Inventory Cost of Goods Sold Raw Materials Inventory Manufacturing Costs Factory Labor Manufacturing Overhead Unadjusted balances $ $ $ Adjustment Adjusted balances $ $ Click if you would like to Show Work for this question: Open Show Work Brief Exercise 16A-02 Bramble Company purchases $53,000 of direct raw materials and it incurs $63,500 of direct factory labor costs. Supporting records show that (a) the Assembly Department used $30,700 of direct raw materials and $42,800 of direct factory labor, and (b) the Finishing Department used the remainder. Record the assignment of the costs to the processing departments using the following format. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Manufacturing Costs Raw Materials Inventory Factory Labor Manufacturing Overhead Work in Process Assembly Finishing Direct materials used $ $ Assign direct factory labor Click if you would like to Show Work for this question: Open Show Work Brief Exercise 16A-03 Bonita Company purchases $54,100 of direct raw materials and it incurs $64,900 of direct factory labor costs. Supporting records show that (a) the Assembly Department used $31,500 of direct raw materials and $38,100 of direct factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Record the assignment of overhead to the Assembly and Finishing Departments using the following format. Assume the balance in Manufacturing Overhead was $111,840 prior to assignment. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Manufacturing Costs Raw Materials Inventory Factory Labor Manufacturing Overhead Work in Process Assembly Finishing Balance Assigning Overhead Click if you would like to Show Work for this question: Open Show Work
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