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Julia Company makes a specialty product to customer specifications. To accumulate cost Julia Company uses job-order costing. Manufacturing overhead is applied to production based on
Julia Company makes a specialty product to customer specifications. To accumulate cost Julia Company uses job-order costing. Manufacturing overhead is applied to production based on a predetermined rate of 110% of direct material cost. Any over-or underapplied overhead is closed to the cost of goods sold account at the end of each month. Additional information is available as follows: | ||||
Cost Added in April | ||||
Balance | Direct | Direct | ||
Job Name | 3/31/21 | Materials | Labor | |
Fillory | $9,000 | $1,630 | $800 | |
Brakebills | 6,780 | 4,000 | 2,300 | |
Wellspring | 9,300 | 2,670 | 1,870 | |
Blackspire | 5,670 | 7,300 | 1,560 | |
Neitherlands | 0 | 5,000 | 1,370 | |
Atlantis | 0 | 2,800 | 1,800 | |
Actual Manufacturing OH for April was $27,350 | ||||
At the end of April Jobs Fillory, Brakebills, Wellspring, Blackspire, and Neitherlands were finished. Jobs Fillory, Brakebills, and Wellspring had been delivered to the customer. | ||||
REQUIRED: | ||||
1. What is the ending balance in Work in process for April 30? | ||||
2. What is the ending balance in Finished Goods for April 30? | ||||
3. What is the total cost of goods manufactured in April 30? | ||||
4. How much is over or underapplied OH? | ||||
5. What is the amount of Cost of Goods Sold reported for April after closing the month? |
please help! Thank you
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