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Hi please help with MOH Allocation Troll House Cookies expects to incur $80,000 of manufacturing overhead 10 costs, and to use 400 direct labor hours
Hi please help with MOH Allocation
the costs, we need to record the transactions for our business for the year. Assume Troll House Cookies uses process costing and allocates manufacturing overhead b of hours during fiscal year 2024 Troll House Cookies reported the following inventories at May 31, 2024: e the Cost of Goods Manufactured by completing the Cost of Goods Manufactured Schedule using the following cost data and account balances: \begin{tabular}{l|lc|} & \multicolumn{2}{|c|}{ Account Balances } \\ Beg. Direct Materials & $ & 50,000 \\ \hline Ending Direct Materials & $ & 60,000 \\ \hline Beg. Work-In-Prdcess Inventory & $ & 10,000 \\ \hline Beg. Finished Goods & $ & 6,000 \\ \hline Ending Work-In-Process Inventory & $ & 5,000 \\ Ending Finished Goods & $ & 8,000 \\ Cookles Produced & 110,000 cookies \\ Cookies Sold & 100,000 cookies \\ Actual Direct Labor Hours Used & 500 hrs \end{tabular} the Cost of Goods sold by completing the Cost of Goods Sold Schedule using the COGM found in part 2 and the account balances listed above. the predetermined overhead aliocation rate for fiscal year 2024. Use the blue shaded areas for inputs. 1. Identify the following as either a product cost or a period cost, and 2. Select the appropriate product cost category, or select expense. Description Coconut flakes used in the cookies. Depreciation on the ovens. Insurance on the computers used in the accounting office. Butter used in cookie dough mix. Wages for the bakery security guard. Salaries of the bakers who make the cookies. Electricity for the bakery. Eggs used in the cookie dough mix. Heating for the corporate headquarters. Sugar used in cookie mix. Freight for shipping the cookies to customers. Salary of the baking supervisor. Sanitary gloves worn by bakers. Flour used for baking the cookies. \begin{tabular}{|l|} \multicolumn{1}{|c|}{ Cost Classification } \\ \hline Product \\ \hline Product \\ \hline Period \\ \hline Product \\ \hline Product \\ \hline Product \\ \hline Product \\ \hline Product \\ \hline Period \\ \hline Product \\ \hline Period \\ \hline Product \\ \hline Product \\ \hline Product \\ \hline \end{tabular} Compute the predetermined overhead allocation rate for fiscal year 2024 assuming a plant-wide rate is used. \begin{tabular}{|l|l|l|l|l|l|} \hline \begin{tabular}{l} Predetermined \\ overhead \\ allocation rate \end{tabular} & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline & & & & & \multicolumn{3}{|c|}{ manufactured assuming 110,000 unies were manufactured. } \\ \hline \multicolumn{3}{|c|}{ Fremont Troll House Cookles } & & & & & \\ \hline \multicolumn{3}{|c|}{ Schedule of cost of Goods Manufactured } & & & Cost of Goods Manufactured & 202,500,00 & \\ \hline \multicolumn{3}{|c|}{ Month Ended March 31.2018} & & & Total Units Produced & 110,000 & \\ \hline & & & & & Unit Product Cost & 1.84 & sin2 \\ \hline & & & & & & & \\ \hline Beginning Work-in-Process inventory & & & $10,000 & & & & \\ \hline \multicolumn{8}{|l|}{\begin{tabular}{l} Direct Materials Used: \\ Beginging Direct Materials \end{tabular}} \\ \hline Beginning Direct Materials & $50,000 & & & & & & \\ \hline Direct Materials Purchased & 90,000 & & & \multicolumn{4}{|c|}{ 'Make sure you only include direct materials in the direct materials used ca } \\ \hline Direct Materlals Avallable for Use & 140,000 & & & & 6 & & \\ \hline Ending Direct Materials & (60,000) & & & & & 18 & \\ \hline Direct Materials Used & & $80.000 & 5 & & & & \\ \hline Direct Labor & & 50,000 & & & & & \\ \hline Manufacturing Overhead: & & & & * & & & \\ \hline Plant Utilities, Insurance, and Property Taxes & 1,000 & & & & & & \\ \hline Depreciation - Plant and Equlpment & 10,000 & & & & & & \\ \hline Indirect Labor & 50,000 & & & & & & \\ \hline Indirect Materials & 6,500 & & & & & & \\ \hline Manufacturing Overhead & & 67,500 & & & & & \\ \hline Fotal Manufacturing Costs Incurred during Period & & & 197500 & & & A. & \\ \hline Total Manufacturing Costs to Account For & & & 207,500 & & & & \\ \hline Endine Work-in-Process Inventory & & & {[5,000)} & & & & \\ \hline Cost of Goods Manufactured & & & 202,500 & & & & \\ \hlinez1 & & & & & & & \\ \hline \end{tabular} Troll House Cookies expects to incur $80,000 of manufacturing overhead 10 costs, and to use 400 direct labor hours during fiscal year 2024.
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