Need Accounting help for Chapters 16 , 17 , and 18.

Using Text Book: Horngrens Financial Managerial Accounting 5th or 4th Ed.

1. Calculate total product costs. Hint: Raw materials = $100,000; direct labor = $75,000; indirect materials = $25,000; office rent = $20,000. Calculate total product costs. Solution: 100,000 + 75,000 + 25,000 = $200,000. Do NOT include office rent; that is not part of making the product. If the problem had said rent on factory or plant, then that would have been included.

2. Calculate the balance of work in process inventory. Hint: at the beginning of the year, Work in Process (WIP) was $20,000. During the year, $30,000 of direct materials was used in production and $25,000 of direct labor was incurred. Manufacturing overhead was $60,000. The cost of goods manufactured was $55,000. What is the balance of WIP at the end of the year? Solution: 20,000 + 30,000 + 25,000 + 60,000 55,000 = 80,000.

3. Calculate total factory overhead. Similar to S16-8.

4. Journalize the entry to issue direct materials and indirect materials to production. Similar to S17-3 and E17-18.

5. Journalize the entry to record labor. Similar to S17-5 and E17-18.

6. Heres another one to calculate the ending balance of WIP, but youre given different items. Hint: Raw materials inventory = 10,000; WIP inventory = 30,000; Finished Goods Inventory = 40,000; Manufactured Overhead = 25,000; during the month direct materials of 15,000 and indirect materials of 5,000 were issued to production. What is the ending balance of WIP? Solution: 30,000 + 15,000 = 45,000. Ignore all of the other information; its in there to trick you.

7. Calculate the balance in manufacturing overhead. Hint: remember that indirect materials and indirect labor get debited to manufacturing overhead. Manufacturing overhead has a balance of $10,000; direct materials of 4,000 and indirect materials of 2,000 are issued to production. What is the balance in manufacturing overhead? Solution: 10,000 + 2,000 = 12,000.

8. calculate predetermined manufacturing overhead allocation rate. Similar to S17-8 (but you dont have to journalize the entry). Similar to E17-19 req. 1.

9. Calculate the amount of overhead allocated to a job. Similar to E17-19 req. 2 except you dont have to do the journal entry.

10. Calculate cost per unit. Hint: Jack manufactured 500 units for the year. The costs are as follows: Department 1 = $10,000; Department 2 = $15,000; Department 3 = $20,000. Jack was only able to sell 400 units. What is the cost per unit? Solution: (10,000 + 15,000 + 20,000)/500 = $90. Do NOT use the 400 that has nothing to do with the cost of the units; thats just the amount that he sold.

11. Calculate the equivalent units in ending inventory for direct materials. Similar to S18-18 req. 1.

12. Calculate the equivalent units for conversion costs at the end of the month. Hint: On December 1, the mixing department had 1,000 gallons of partially processed product. During December, 20,000 gallons were transferred in from the previous department and 15,000 gallons were completed and transferred out. At the end of the month, there were 5,000 gallons of partially processed product in the mixing department. At the end of the month, the percentage completion for conversion costs is 55%. Calculate the equivalent units for conversion costs at the end of the month for the mixing department. Solution: 15,000 + (5,000 x .55) = 17,750. Its as simple as that. All the other information was not needed.

13. Calculate the equivalent units for direct materials at the end of the month. Hint: On December 1, the finishing department had 2,000 units of partially completed product. During December, 30,000 units were transferred in from the previous department and 12,000 units were completed and transferred out. At the end of the month, there were 6,000 units of partially completed product in the finishing department. At the end of the month, the percentage completion for direct materials is 75%. Calculate the equivalent units for direct materials at the end of the month for the finishing department. Solution: 12,000 + (6,000 x .75) = 16,500. Its as simple as that. All the other information was not needed.

14. Calculate equivalent units of production for direct materials. Hint: If 25,000 units are 60% complete with respect to direct materials, then calculate the equivalent units of production. Solution: 25,000 x .60 = 15,000.

Please Show all work for calculations.