Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Check my work Partially completed T-accounts and additional information for Pine Ridge Corporation for the month of February follow Materials Inventory B6 (271) 57,300 227,600

image text in transcribed
image text in transcribed
Check my work Partially completed T-accounts and additional information for Pine Ridge Corporation for the month of February follow Materials Inventory B6 (271) 57,300 227,600 189,500 Cost of Goods Sold Work In Process Inventory BB (2/1) 100,380 Labor 186,700 Manufacturinn Overhead Control 155,700 Finished Goods Inventory 08 (2/1) 201,200 345.900 249,900 Applied Manufacturing Overhead 149,360 Additional information for February follows Labor wage rate was $26 per hour During the month, sales revenue was $600,900, and selling and administrative costs were $104,600 This company has no indirect materials or supplies The company applies manufacturing overhead on the basis of direct labor costs es Required: a. What was the cost of direct materials issued to production during February? b. What was the over- or underapplied manufacturing overhead for February? c. What was the manufacturing overhead application rate in February? d. What was the cost of products completed during February? e. What was the balance of the Work in Process Inventory account at the end of February? f. What was the operating profit for February? Any over- or underapplied overhead is written off to Cost of Goods Sold a. What was the cost of direct materials issued to production during February? b. What was the over- or underapplied manufacturing overhead for February? c. What was the manufacturing overhead application rate in February? d. What was the cost of products completed during February? e. What was the balance of the Work-in-Process Inventory account at the end of February? 1. What was the operating profit for February? Any over- or underapplied overhead is written off to Cost of Goods Sold Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required E Required F What was the manufacturing overhead application rate in February? Manufacturing overhead

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Principles And Issues

Authors: Michael H. Granof, Philip W. Bell

4th Edition

013321852X, 978-0133218527

More Books

Students also viewed these Accounting questions