Question
Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning
Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $56,100 and its total manufacturing overhead cost to be $84,150. Several incomplete general ledger accounts show the transactions that occurred during the most recent accounting period which is given in second requirement. Required: 1. Calculate the predetermined overhead rate. (answer 150% of Direct labor)
2. Fill in the missing values in the T-accounts.( this where i need help) please and thank u
Raw Materials Inventory 13,000 Beginning Balance 93,300 Purchases 28,200 Ending Balance Finished Goods Inventory 41,600 Beginning Balance Cost of Goods Completed 48,400 Ending Balance Sales Revenue 307,000 Selling, General, and Administrative Expenses Adm. Salaries Office Depreciation 18,600 Advertising 13,100 57,900 Ending Balance Work in Process Inventory 29,800 Beginning Balance 69,000 Direct Materials Direct Labor Applied overhead 18,400 Ending Balance Cost of Goods Sold Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Manufacturing overhead 9.100 Indirect Materials 13900 Indirect Labor 11.100 Factory Depreciation 6600 Factory Rent 2900 Factory Utilities Other Factory Costs 9,600 53.200 Actual overhead Applied Overhead
Step 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