Iz Rizky Printing (IRP) uses a job costing system for all its products, through two production...
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Iz Rizky Printing (IRP) uses a job costing system for all its products, through two production departments, Editing Department and the Printing Department before being transferred as a finished product. The predetermined overhead rate (POR) of Editing Department is 82.5% of direct labor cost while the POR of Printing department is RM8/ machine hour. Data on Job C2, the only job that is processing in April and still not finished by the end of April 2023 is as follows: Item Direct material purchased Direct material used Editing Department 500 liter @ RM20/ liter 480 liter Printing Department 2,800 liter @ RM30 2,500 liter Direct Labor hour 7,000 hours @ RM10/ hour 3,500 @ RM6 Machine Hour 1.000 Manufacturing Overhead RM56,000 8,000 RM68,000 Required: i. Calculate ending Work In Process as at 30 April 2023 ii. Compute the under applied or over applied overhead for each department iii. Prepare the journal entries to adjust under applied or over applied for April 2023 Iz Rizky Printing (IRP) uses a job costing system for all its products, through two production departments, Editing Department and the Printing Department before being transferred as a finished product. The predetermined overhead rate (POR) of Editing Department is 82.5% of direct labor cost while the POR of Printing department is RM8/ machine hour. Data on Job C2, the only job that is processing in April and still not finished by the end of April 2023 is as follows: Item Direct material purchased Direct material used Editing Department 500 liter @ RM20/ liter 480 liter Printing Department 2,800 liter @ RM30 2,500 liter Direct Labor hour 7,000 hours @ RM10/ hour 3,500 @ RM6 Machine Hour 1.000 Manufacturing Overhead RM56,000 8,000 RM68,000 Required: i. Calculate ending Work In Process as at 30 April 2023 ii. Compute the under applied or over applied overhead for each department iii. Prepare the journal entries to adjust under applied or over applied for April 2023
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i Calculation of Ending Work in Process as at 30 April 2023 For the Editing Department Direct Material Cost of Direct Material Purchased 500 liter RM2... View the full answer
Related Book For
Cost Management Measuring Monitoring And Motivating Performance
ISBN: 9781118168875
2nd Canadian Edition
Authors: Leslie G. Eldenburg, Susan Wolcott, Liang Hsuan Chen, Gail Cook
Posted Date:
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