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Evener, Inc. has provided the following data for the month of July. There were no beginning inventories; consequently, the direct materials, direct labor and manufacturing
Evener, Inc. has provided the following data for the month of July. There were no beginning inventories; consequently, the direct materials, direct labor and manufacturing overhead applied listed below are all for the current month:
Work in Process Finished Goods Cost of Goods Sold
Total
Direct materials $6,030 $16,560 $23,400 $45,990
Direct Labor 3,770 16,560 23,400 43,730
Manufacturing overhead applied 4,950 11,550 16,500 33,000
Total $14,750 $44,670 $63,300 122,720
Manufacturing overhead for the month was overapplied by $3,000
The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overapplied during the month in those accounts.
Determine the cost of work in process, finished goods, and cost of goods sold AFTER allocation of the underapplied or overapplied overhead for the
please I want the answer for the one where are debit and credit
Amounts Accounts Debit Credit TTTTEE e r and There were noe medores consectetu Work in process Fished Goods Cost of Good 576 560 70 1650 11.550 23-400 T6 500 63300 44670 w o n g process the goods and cost of goods sold at the end of the month on here and cost of goods sold her section of the unperapplied or overapplied overhead for the period de cation of underspied or over upplad mong work in process finished goods and cost of goods sold Wort process During the month the manufacturing overhead overapplied by 3000$. therfore we have to underapply (deduct) 3000 S from WIP, FG, COGS. Basis of allcation is ratio of manufacturing overheads among WIP,FG,COGS RATIO :4950/33000, 11550/33000,16500/33000 WIP =3000*(4950/33000) =450 FG =3000"(11550/33000) =1050 COGS =3000*(16500/33000) =1500 The revised total cost table Total Work in Process Finished Goods Cost of Goods Sold $23,400 Direct materials $6,030 $16,560 $45,990 Direct Labor 3,770 16,560 23,400 43,730 16,500- Manufacturing overhead applied =4,950- 450 11,550- 1050 1500 = 33,000- 3000 =4500 =10500 =15000 =3000 Total $14300 $43620 $61800 119720 Step by Step Solution
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