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I need help answering the questions for step 8. I have worked on it but I want to check my answers. Thank you! Step 1
I need help answering the questions for step 8. I have worked on it but I want to check my answers. Thank you!
Step 1 You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty tables. Each table is specially customized for the customer. This month, you have been asked to develop and manufacture two new tables for customers. You will design and build the tables. This is a no nail, no screw, and no glue manufacturing (no indirect materials used). You will be keeping track of the costs incurred to manufacture the tables using Job #1 Cost Sheet and Job #2 Cost Sheet. The cost of the direct materials that can be used to manufacture the table are as follows. These cost are on a per unit basis. Table Top $2,300.00 Table Leg $800.00 Drawer $430,00 The company uses a job order costing system and applies manufacturing overhead to jobs based on direct labor hours. The company estimates that there will be 12 direct labor hours worked during the month. The estimated manufacturing overhead cost for the month is: Factory supervisor salary per month $4,000.00 b. Rent for the factory per month 5800.00 Depreciation of factory equipment per month $600.00 Total Estimated manufacturing overhead 55.400.00 a What is the predetermined manufacturing overhead rate? 450 Step 8 Answer the additional questions below Check Figure: Cost of Goods Manufactured=$8,350, Net operating income-514.250 11570 0 What is the ending balance for raw materials? what is the ending balance for work in process? 7355 What is the ending balance for finished goods? What is the actual manufacturing overhead cost incurred during December before adjustment? 5450 What is the total applied manufacturing overhead cost during December before adjustment? 4050 What is the unadjusted cost of goods sold? 8350 Was the manufacturint overhead for the month of December overappled/underappled? Underapplied What is the amount of Manufacturing overhead overapplied underapplled? What is the adjusted cost of goods sold? What is gross margint What is the total prime cost for job#1? 5650 What is the total conversion cost for job #17 1400 9750 651 8350 What is the total product cost for job12 What was the period cost incurred for the month of December 2600 What the total variable cost incurred for lob assume that all selling and administrative cost 2600 What is the total product cost for job#17 What was the period cost incurred for the month of December? What is the total variable cost incurred for Job #1(assume that all selling and administrative cost and all manufacturing overhead costs are fixed.)? What is the contribution margin for Job #1 (assume that all selling and administrative cost and all manufacturing overhead costs are fixed.)? What would be the actual (not applied) total fixed manufacturing overhead cost incurred for the company for the month if the order in Job #1 is for five tables instead of one table assuming this cost is with in the relevant range? Step 1 You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty tables. Each table is specially customized for the customer. This month, you have been asked to develop and manufacture two new tables for customers. You will design and build the tables. This is a no nail, no screw, and no glue manufacturing (no indirect materials used). You will be keeping track of the costs incurred to manufacture the tables using Job #1 Cost Sheet and Job #2 Cost Sheet. The cost of the direct materials that can be used to manufacture the table are as follows. These cost are on a per unit basis. Table Top $2,300.00 Table Leg $800.00 Drawer $430,00 The company uses a job order costing system and applies manufacturing overhead to jobs based on direct labor hours. The company estimates that there will be 12 direct labor hours worked during the month. The estimated manufacturing overhead cost for the month is: Factory supervisor salary per month $4,000.00 b. Rent for the factory per month 5800.00 Depreciation of factory equipment per month $600.00 Total Estimated manufacturing overhead 55.400.00 a What is the predetermined manufacturing overhead rate? 450 Step 8 Answer the additional questions below Check Figure: Cost of Goods Manufactured=$8,350, Net operating income-514.250 11570 0 What is the ending balance for raw materials? what is the ending balance for work in process? 7355 What is the ending balance for finished goods? What is the actual manufacturing overhead cost incurred during December before adjustment? 5450 What is the total applied manufacturing overhead cost during December before adjustment? 4050 What is the unadjusted cost of goods sold? 8350 Was the manufacturint overhead for the month of December overappled/underappled? Underapplied What is the amount of Manufacturing overhead overapplied underapplled? What is the adjusted cost of goods sold? What is gross margint What is the total prime cost for job#1? 5650 What is the total conversion cost for job #17 1400 9750 651 8350 What is the total product cost for job12 What was the period cost incurred for the month of December 2600 What the total variable cost incurred for lob assume that all selling and administrative cost 2600 What is the total product cost for job#17 What was the period cost incurred for the month of December? What is the total variable cost incurred for Job #1(assume that all selling and administrative cost and all manufacturing overhead costs are fixed.)? What is the contribution margin for Job #1 (assume that all selling and administrative cost and all manufacturing overhead costs are fixed.)? What would be the actual (not applied) total fixed manufacturing overhead cost incurred for the company for the month if the order in Job #1 is for five tables instead of one table assuming this cost is with in the relevant range Step by Step Solution
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