Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help with #4 and #8 please Total factory overhead applied in July was $1,255,800. Required: 1. Compute the predetermined factory overhead rate. 2.

i need help with #4 and #8 please
image text in transcribed
image text in transcribed
image text in transcribed
Total factory overhead applied in July was $1,255,800. Required: 1. Compute the predetermined factory overhead rate. 2. Compute the amount of the Direct Materials account at the end of July. 3. Compute the actual factory overhead cost incurred during the month of July. 4. Compute the ending balance of the Work-in-Process Inventory account for July. 5. Prepare the Statement of Cost of Goods Manufactured for July. 6. Compute the amount of overapplied or underapplied overhead. 7. What is the cost per unit of Job X13 if it has a total of 100 units? 8. Prepare the Statement of Cost of Goods Sold for July. ( Answer is not complete. Complete this question by entering your answers in the tabs below. Compute the ending balance of the Work-In-Process Inventory account for July. Haughton Company uses a job costing system for its production cosis and a predetermined factory overhead rate based on direct labor costs to apply factory overhead to all jobs. During the month of July, the firm processed three jobs: X13, X14, and X15, of which X13 was started in June. As of July 31 , Job X13 was sold and Jobs X14 and X15 were stil in process. Total factory overhead applied in July was $1,255,800. Required: 1. Compute the predetermined factory overhead rate. 2. Compute the amount of the Direct Materials account at the end of July. 3. Compute the actual factory overhead cost incurred during the month of July. 4. Compute the ending balance of the Work-in-Process Inventory account for July. 5. Prepare the Statement of Cost of Goods Manufactured for July 6. Compute the amount of overapplied or underapplied overhead 7. What is the cost per unit of Job 13 if it has a total of 100 units? 8. Preoare the Statement of Cost of Goods Sold for Julv 4. Compute the ending balance of the Work-in-Process Inventory account for July 5 Prepare the Statement of Cost of Goods Manufactured for July. 6. Compute the amount of overapplied or underapplied overhead 7. What is the cost per unit of Job X13 if it has a total of 100 units? 8 . Prepare the Statement of Cost of Goods Sold for July. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the Statement of Cost of Goods Sold for July

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Accounting Volume 2

Authors: Frank Wood, Alan Sangster

6th Edition

0273039148, 9780273039143

More Books

Students also viewed these Accounting questions

Question

Define and discuss the nature of communication

Answered: 1 week ago

Question

Define and discuss the nature of culture

Answered: 1 week ago