Do Homework P Do Homework - Chapter 4 - Hc x + C mathxl.com/Student/PlayerHomework.aspx?homeworkld=606266921&questionld=7&flushed=false&cld=6637867¢erwin=yes Welcome, Disha -... ADHE - Thank You ADHE - Scholarshi... in Linkedin Login, Si... FSA Contact Information candidate gradlea... M Gmail Principal of Marke... Other Bookmarks Reading List Fall 2021 Intermediate Managerial Cost Disha Patel & | 09/18/219:34 PM = Homework: Chapter 4 - Homework Question 9, P4-39 (simila... > HW Score: 96.14%, 9.61 of 10 points Points: 0.61 of 1 Save Part 6 of 8 The Wamth Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machine-hours as the cost-allocation base. The following data are for 2020: X (Click the icon to view the following data.) Data Table Read the requirements. -X Budgeted manufacturing overhead costs $ 4,900,000 DEyIII wy SEIECUIly HIE IVIIIIuIa you will USE. ITIEII, CILLEI WE allluis allu Calculate TIE late. Requirements Overhead allocation base Machine-hours Budgeted manufacturing Budgeted machine-hours 70,000 Budgeted manufacturing overhead Budgeted machine-hours overhead rate 1. Compute the budgeted manufacturing overhead rate for 2020. Manufacturing overhead costs incurred $ 5,100,000 4,900,000 70,000 70 2. Compute the under- or overallocated manufacturing overhead of Wamth Actual machine-hours 65,000 Radiator in 2020. Adjust for this amount using the following: Requirement 2. Compute the under- or overallocated manufacturing overhead of Wamth Radiator in 2020. a. Write-off to Cost of Goods Sold hine-hours data and the ending balances (before proration of under- or overallocated overhead) are as follows: Begin by selecting the formula you will use. Next, enter the amounts in the formula and compute the under- or overallocate b. Proration based on ending balances (before proration) in Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold Actual Machine-Hours 2020 End-of-Year Balance Manufacturing overhead c. Proration based on the overhead allocated in 2020 (before proration) in Cost of Goods Sold 8,00 ,500,000 Manufacturing overhead incurred Manufacturing overhead allocated the ending balances of Work-in-Process Control, Finished Goods Control, = underallocated (overallocated) and Cost of Goods Sold Finished Goods Control 0,000 1,500,000 5,100,000 4,550,000 $ 550,000 3. Which method do you prefer in requirement 2? Explain. Work-in-Process Control 7,000 1,000,000 a. Adjust for this amount using a write-off to Cost of Goods Sold. Show the account balances after the write-off. Account Balance After Proration Print Done Print Done Cost of Goods Sold 8,050,000 Finished Goods Control 1,500,000 Work-in-Process Control 1,000,000 b. Adjust for the amount using a proration based on ending balances (before proration) in Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold. Begin by selecting the formula to calculate the adjustment to each account. Then enter the amounts in the formula. (Enter the proportions as a decimal to three decimal places, "X.XXX". Use a minus sign or parentheses to show overallocated amounts and adjustments to be subtracted.) Proportion (decimal) (Over-) Underallocated OH Adjustment COGS 0.750 x $ 550,000 $ 412,500 FG 0.150 x 550,000 82,500 WIP 0.100 x 550,000 55,000 Now enter the account balances after the write-off Account Balance After Proration Cost of Goods Sold 7,912,500 Finished Goods Control 1,582,500 Work-in-Process Control 1,055,000 c. Adjust for the amount using a proration based on the overhead allocated in 2020 (before proration) in the ending balances of Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold. Begin by selecting the formula to calculate the adjustment to each account. Then enter the amounts in the formula. (Enter the proportions as a decimal to three decimal places, "X.XXX". Use a minus sign or parentheses to show overallocated amounts and adjustments to be subtracted.) Proportion (decimal) (Over-) Underallocated OH Adjustment COGS FG WIP Help Me Solve This eText Pages Get More Help - Clear All Check
