Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can i please get help with problem P2-5B Problems: Set B 3 Department Manufacturing overhead $720,000 $640,000 $900.000 Direct labor cost Direct labor hours Machine
can i please get help with problem P2-5B
Problems: Set B 3 Department Manufacturing overhead $720,000 $640,000 $900.000 Direct labor cost Direct labor hours Machine hours $600,000$100,000 $600,000 40,000 50,000 40,000 100,000120,000 150,000 During January, the job enst sheets showed the following costs and production data Direct materials used Direct labor cost Manufacturing overhead incurred $60,000 $0,000 $72,100 $92,000$86,000 $64,000 $50,400 4.200 12,600 $48,000$35,000 Direct labor hours Machine hours 4,000 3,500 8,00010,500 (a) Compute the predetermined overhead rate for each department (c) Compute the under- or overapplied overhead for each department at January 31. a) 120%, $16, $6 te the total manufacturing costs assigned to jobs in January in each department. (b) S197,600, 5177,000, 5190,000 P2-5B Bell Company's fiscal year ends on June 30. The folloving accounts are found in its job order cost accounting system for the first month of the new fiscal Raw Materials Inventory accounts and dererm missing monts July 1 Beginning balance 19,000 July 31 Requisitions a) LO 1,2, 3,4, 5), AN 31 Purchases 90,400 July 31 Ending balance Work in Process Inventory g balance ) July 31 Jobs completed July 1 Beginning balance S( uly 31 Jobs comple 31 Direet materials 31 Direct labor 3I Overhead 80,000 Ending balance Beginning balance Ending halance July 31 Finished Goods Inventory (h) | July 31 Cost of goods sold ) July i 31 July 31 Factory Labor ) July 31 Wages assigned (m) July 31 Factory wages Manufacturing Overhead July 31 Indirect materials 8,900 July 31 Overhead applied 117,000 31 Indirect labor 31 Other overhead 16,000 Other data: 1. On July 1, two jobs were in process: Job No. 4085 and Job No. 4086, with costs of $19,000 and $8,200, respectively 2. During July, Job Nos. 4087, 4088, and 4089 were started. On July 31, only Job No. 4089 was unfinished. This job had charges for direct materials $2,000 and direct labor $1,500, plus manufacturing overhead. Mamufacturing overhead was applied at the rate of 130% of direct labor cost. 3. On July I, Job No. 4084, costing $145,000, was in the finished goods warehouse. On 4. Overhead was $3,000 underapplied in July Instructions July 31, Job No. 4088, costing $138,000, was in finished goods. (d) 5 90,000 $308,750 0) 5106,000 List the letters (a) through (n) and indicate the amount pertaining to each letter Show computationsStep 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