Answered step by step
Verified Expert Solution
Question
1 Approved Answer
how would I work these? the photos are in order. the ones in green I got correct Marigold, Inc. manufactures ergonomically designed computer furniture. Marigold
how would I work these? the photos are in order. the ones in green I got correct
Marigold, Inc. manufactures ergonomically designed computer furniture. Marigold uses a job order costing system. On November 30, the Work in Process Inventory consisted of the following jobs: Job No. CC723 CH291 Units 20,000 Item Computer caddy Chair Printer stand Accumulated Cost $990,000 432,000 258,000 10,000 PS812 30,000 $1,680,000 On November 30, Marigold's Direct Materials inventory account totaled $698,000, and its Finished Goods Inventory totaled $3,476,400. Marigold applies manufacturing overhead on the basis of machine hours. The company's manufacturing overhead budget for the year totaled $4,600,000, and the company planned to use 920.000 machine hours during the year. Through the first eleven months of the year, the company used a total of 880,000 machine hours, total manufacturing overhead amounted to $4,294,500, and Cost of Goods Sold was $8,760.250. For the purposes of this problem, ignore year-end disposition of over/under applied overhead. Marigold purchased $648,000 in direct materials in December and incurred the following costs for jobs in process that month Materials Machine Direct Labor Direct Labor Job No. Issued Hours Hours 0722 S62000 112.000 200 $122.400 Cost Marigold purchased $648,000 in direct materials in December and incurred the following costs for jobs in process that month: Job No. Materials Issued Machine Hours 12,000 Direct Labor Hours Direct Labor Cost CC723 11.700 $187,000 $18,300 $122,400 $47,200 CH291 4.700 3,800 PS812 $235.000 21,500 19,300 $229,500 DS444 $252,000 14.000 13,300 $139,000 The following jobs were completed in December and transferred to the Finished Goods Inventory: Job No. Item Units 20,000 CC723 Computer caddy CH291 Chair 10,000 5,000 DS444 Desk the total cost of each of the four jobs worked on in December. (a) Calculate the total cost of each of the four jobs worked on in December CC723 CH291 PS812 DS444 Total Cost $ 1359400 $ 506000 $ 830000 $ (b) Calculate the total manufacturing cost for December. Total manufacturing cost $ 1476400 (c) Calculate the cost of goods manufactured for December. Cost of goods manufactured $ 2326400 (d) Calculate the balance in the Work in Process Inventory account on December 31. Balance in work in process $ 830000 (e) Assume that Marigold sold 8,200 computer caddies, 10,000 chairs, and 4.500 desks in December. Calculate Cost of Goods Sold for the month of December and the ending Finished Goods inventory balance on December 31. (For computation purpose round per unit rates to 2 decimal places, eg. 3.54. Round final answers to decmial places, eg. 45,000) Cost of goods sold 1478254 Finished goods inventory $ 348146 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