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Job-Order Costing. The following cost data for manufacturing activites of Canapy Company during 2019. HW15 Job-order Costing (10 points) The following cost data for manufacturing
Job-Order Costing. The following cost data for manufacturing activites of Canapy Company during 2019.
HW15 Job-order Costing (10 points) The following cost data for manufacturing activities of Canapy Company uring activities of Canapy Company during 2019. Manufacturing costs incurred during the year Purchases of raw materials $39,000 Estimated annual overhead $34,500 Direct labor costs $28,000 Estimated machine hours 6,000mh Actual overhead costs incurred $34.000 Actual machine hours 5,600 mh Inventories: Raw materials, January 1 $ 4,000 Raw materials, December 31 1,500 Work in process, January 1 3,000 Work in process, December 31 2,700 The company uses a predetermined overhead rate to charge overhead cost to production. The rate is based on machine-hours. a. Compute the predetermined overhead rate b. Compute the amount of under-or over-applied overhead cost for the year 2019. c. Cost of Goods Sold for the period has been recorded at $104,500. Compute the COGS adjusted for the manufacturing overhead. d. Compute the actual total manufacturing costs for the year. e. Compute the total cost of jobs completed and transferred to finished goods inventory Step by Step Solution
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