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I need help with Requirement 8. Please show all work and math. P4-42 (book/static) Question Help Keezel Company uses normal costing in its job-costing system.
I need help with Requirement 8. Please show all work and math.
P4-42 (book/static) Question Help Keezel Company uses normal costing in its job-costing system. Partially completed T-accounts and additional information for Keezel for 2017 are as follows: (Click the icon to view the T-accounts.) (Click the icon to view the additional information.) Read the requirements. Requirement 8. Using each of the approaches in requirement 7, calculate Keezel's operating income for 2017. First calculate operating income or loss using the write-off to cost of goods sold approach and then using the proration approach. (Use parentheses or a minus sign for an operating loss.) Write-off to Cost of Goods Sold 1,045,000 Revenues Cost of Goods Sold Gross Margin Marketing and distribution costs Operating income/loss) Enter any number in the edit fields and then click Check Answer. 2 parts remaining Clear All Check Answer - X Question Help T-accounts for 2017 are as follows: Direct Materials Control Work-in-Process Control Finished Goods Control More Info - 1-1-2017 42,000 148,000 1-1-2017 82,000 1-1-2017 105,000 700,000 135,000 Dir. Manuf. 705,000 labor 285,000 Manufacturing Overhead Allocated a. Cost of Goods Sold Manufacturing Overhead Control 425,000 Direct manufacturing labor wage rate was $15 per hour. b. Manufacturing overhead was allocated at $20 per direct manufacturing labor-hour. During the year, sales revenues were $1,550,000, and marketing and distribution costs were $810,000. C. Print Done Print DoneStep by Step Solution
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