Exercise # 5-10

Kareen CUT Asal as Sed Income Costs of subcontracted work. Din tal casts Shto overhead... Total cost to January 31. records of Eccles EXERCISE EXERCISE 5-10 Schedules of Cast of Goods Manufactured and Cost of Goods Statement (106) The following data from the just completed year are taken from the accounting reco Company Sales .. $643,000 90.000 132,000 100,000 43,000 210,000 220,000 Direct labour cost.... Raw material purchases Selling expenses... Administrative expenses.. Manufacturing overhead applied to work in proces Actual manufacturing overhead costs.. Beginning of Year End of Year ................... Inventory Raw materials. Work in process... Finished goods ... $ 8,000 5,000 70,000 $10,000 20,000 25,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. 3. Prepare an income statement EXERCISE 5-11 Applying Overhead in a Service Company: Journal Entries (L04, LO5, L.07] Creative Web Design uses a job-order costing system to track the costs of its web design projects. The company provides complete website design and hosting services. The following table provides data concerning the three design projects that were in process during May. There was no work in process the beginning of May: Car City Project Jan's Flowers Happy Daycare Designer-hours ..... Direct labour cost..... ... 60 $1,500 80 $2,000 20 Actual overhead costs were $3.000 for Me $ 500 signsr-hours The