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can someone please help me. Thank you Bramble Wings, Inc. manufactures airplanes for use in stunt shows. Bramble's factory is highly automated, using the latest
can someone please help me. Thank you Bramble Wings, Inc. manufactures airplanes for use in stunt shows. Bramble's factory is highly automated, using the latest in robotic technology. To keep costs low, the company employs as few factory workers as possible. Since each plane has different features (such as its shape, weight, and color), Bramble uses a job order costing system to accumulate product costs. At the end of 2016, Bramble's accountants developed the following expectations for 2017 based on the marketing department's sales forecast: Budgeted overhead cost $1,101,000 Estimated machine hours 46,000 Estimated direct labor hours 10,000 Estimated direct materials cost $1,510,000 Bramble's inventory count, completed on December 31, 2016, revealed the following ending inventory balances: Raw Materials Inventory $249,000 Work in Process Inventory $627,000 Finished Goods Inventory $2,200,000 The company's 2017 payroll data revealed the following actual payroll costs for the year: Job Title Number Employed Wage Rate per Hour Annual Salary per Employee Total Hours Worked per Employee President and CEO 1 $228,000 Vice president and CFO 1 $178,000 Factory manager 1 $40,900 Assistant factory manager 1 $31,300 Machine operator 5 $14.5 2,250 Security guard, factory 2 $20,500 Forklift operator 2 $7.5 2,000 Corporate secretary 1 $36,200 Janitor, factory 2 $6 2,150 The following information was taken from Bramble's Schedule of Plant Assets. All assets are depreciated using the straight-line method. Plant Asset Purchase Price Salvage Value Useful Life Factory building $4,000,000 $150,000 20 Years Administrative office $650,000 $125,000 30 Years Factory equipment $2,000,000 $20,000 12 Years Other miscellaneous costs for 2017 all paid in cash included: Cost Amount Factory insurance (fully expired) $14,000 Administrative office utilities $5,100 Factory utilities $32,700 Office supplies (fully consumed) $4,200 Additional information about Bramble's operations in 2017 includes the following: Raw materials purchases for the year amounted to $1,948,000. All materials were purchased on account. The company used $1,860,000 in raw materials during the year. Of that amount, 85% was direct materials and 15% was indirect materials. Bramble applied overhead to Work in Process Inventory based on direct materials cost. Airplanes costing $3,450,000 to manufacture were completed and transferred out of Work in Process Inventory. Bramble uses a markup of 80% to price its airplanes. Sales for the year were $6,570,000. All sales are made on account. If Bramble chooses instead to prorate under- or overapplied overhead, what are the adjusted Work in Process Inventory, Finished Goods Inventory and Cost of Goods Sold account balances for 2017? (Round % of total to 2 decimal places, e.g. 55.75 and final answers to 0 decimal places, e.g. 5,275.) Adjusted Balance Work In Process $Entry field with incorrect answer 97514 Finished Goods $Entry field with incorrect answer 1877990 Cost of Goods Sold $Entry field with incorrect answer 3427321 Job 3827 was started and completed in 2017. The job required 1,100 machine hours, 300 direct labor hours, and $77,000 in direct materials to complete. What was the total cost of this job? Using Bramble's 80% markup, what sales price would be charged for this airplane? (Round answers to 0 decimal places, e.g. 5,275.) Total Cost $Entry field with incorrect answer Sales Price $Entry field with incorrect answer If Bramble had chosen to use machine hours as its overhead application base, what would the rate have been in 2017? (Round answer to 2 decimal places, e.g. 52.75.) Predetermined rate $Entry field
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