Question
Greatwater Manufacturing uses job costing. In May, material requisitions were $44,000 ($39,000 of these were direct materials), and raw material purchases were $57,700. The beginning
Greatwater Manufacturing uses job costing. In May, material requisitions were $44,000 ($39,000 of these were direct materials), and raw material purchases were $57,700. The beginning of month balance in raw materials inventory was $10,600. What was the ending raw materials inventorybalance?
Charles Co. allocates overhead based on machine hours. Selected data for the most recent year follow.
Estimated manufacturing overhead cost | $350,000 |
Actual manufacturing overhead cost | $380,000 |
Estimated machine hours | 25,000 |
Actual machine hours | 26,500 |
The estimates were made as of the beginning of the year, while the actual results were for the entire year. The amount of manufacturing overhead allocated for the year based on machine hours would have been:
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