Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need help solving a-g not sure how to work them out Chapter 15 - Exercise - Cost Flows Inventories: Raw materials Work in process Finished

need help solving a-g not sure how to work them out

image text in transcribed

Chapter 15 - Exercise - Cost Flows Inventories: Raw materials Work in process Finished goods Activities and information Igr Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead: Indirect materials Indirect labor Other overhead costs Sales (received in cash) Beg Bal August 31 $ 31,000 9,500 63,000 End Bal Sept 30 54,000 20,200 34,400 180,000 320, 11,000 91,000 The company estimates total factory overhead costs for the year to be $1 $60,000 and total estimated direct labor costs areS3AOOJP0. The company applies factory overhead based on actual direct labor costs. te h a. Cost of direct materials use b. Cost of direct labor used' .000 c. The amount of a lied overhead mpute the predetermined overhead rate firsthi8tA 800 d. Cost of goods manu actured JOO e. Cost of goods sold (before over or underapplied overhead) f. Gross profit (before over or underapplied overhead) g. Overapplied or underapplied over. lead - list amount and label if over or under applied Show your calculations below:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Financial Accounting

Authors: Belverd E Needles, Marian Powers

11th Edition

0538755164, 9780538755160

More Books

Students also viewed these Accounting questions

Question

specify some main features of the worlds labour force;

Answered: 1 week ago