Answered step by step
Verified Expert Solution
Question
1 Approved Answer
i have already finished the last 6 questions. but how to deal with the 7-9? thank you was $ 464,000 eted during 2020? S.925.000 --accounts
i have already finished the last 6 questions. but how to deal with the 7-9? thank you
was $ 464,000 eted during 2020? S.925.000 --accounts Work-in-Process Control Direct Materials Control 1-1-2020 46,000 234.000 Finished Goods Control 1-1-2020 10,000 880,000 137,000 Manufacturing Overhead Control 514,000 1-1-2020 44,000 Dir. Manut labor 348,000 Manufacturing Overhead Allocated 925,000 Cost of Goods Sold Print Done head in 2020 was $ 50,000 allocated manufacturing overhead using the write-off to Cost of Goods Sold he write-off is Clea Get More Help 74"F Sunny dona information Read the OGLAN First identify the formula to calculate the manufacturing overhead allocated Direct manufacturing labor hours Manufacturing overhead rate Manufacturing overhead allocated Manufacturing overhead allocated to jobs during 2020 was $ 464,000 Requirement 3. What was the total cost of jobs completed during 20207 The total cost of jobs completed during 2020 was $ $25,000 Requirement 4. What was the balance of work in process inventory on December 31, 2020? Post the entries during the year in the Work-in-process control account to determine the ending balance on December 31, 2020. Be sure to select reference labels for each of the entries Work-in-Process Control 1-4-2020 44,000 Transferred to finished goods 925,000 Direct materials 234,000 Direct manufacturing labor 348,000 Manufacturing Overhead allocated 464.000 12-31-2020 165,000 Requirement 5. What was the cost of goods sold before proration of under or overallocated overhead? The cost of goods sold before prontion of under-ar overallocated overhead was 5 880.000 Requirement 6. What was the under or overallocated manufacturing overhad in 2007 The undefor overlod manufacturing overhead in 2020 was $ 50.000 Requirementa Discose of the under overallocated manufacturing overheading the write-off to Cost of Goods Sold The Cou of gods sold account balance at the write-offs Help Me Solve This e Text Pages Get More Help 7 Sunny Type here to search Requirements 1. What was the amount of direct materials issued to production during 2020? 2. What was the amount of manufacturing overhead allocated to jobs during 2020? 3. What was the total cost of jobs completed during 2020? 4. What was the balance of work-in-process inventory on December 31, 2020? 5. What was the cost of goods sold before proration of under-or overallocated overhead? 6. What was the under-or overallocated manufacturing overhead in 2020? 7. Adjust for the under-or overallocated manufacturing overhead using the following: a. Write-off to Cost of Goods Sold b. Proration based on ending balances (before proration) in Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold 8. Using each of the approaches in requirement 7, calculate Hawthorn's operating income for 2020. 9. Which approach in requirement 7 do you recommend Hawthorn use? Explain your answer briefly OV was $ 464,000 eted during 2020? S025.000 -accounts Finished Goods Control Direct Materials Control 1-1-2020 46,000 234.000 1-1-2020 10,000 880,000 Work-in-Process Control 1-1-2020 44,000 Dir. Manuf. labor 348,000 Manufacturing Overhead Allocated 137.000 Manufacturing Overhead Control 514,000 925.000 Cost of Goods Sold Print Done head in 2020 was $ 50,000 allocated manufacturing overhead using the write-off to Cost of Goods Sold. he write-off is Clea es Get More Help 74"F Sunny D? n Del More Info Ex t to d entries. finis a. Direct manufacturing labor wage rate was $12 per hour. b. Manufacturing overhead was allocated at $16 per direct manufacturing labor-hour. c. During the year, sales revenues were $1,040,000, and marketing and distribution costs were $126,000. Print Done under verhea g overhead in 2020? $ 50,000 ring overhead using the write-off to Cost of Goods Sold 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