Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

O ezto.mheducatioh.com/hm.tpx Winfrey Co.'s March 31 inventory of raw materials is $100,000. Raw materials purchases in April are $400,000, and factory payroll cost in April

image text in transcribed
image text in transcribed
O ezto.mheducatioh.com/hm.tpx Winfrey Co.'s March 31 inventory of raw materials is $100,000. Raw materials purchases in April are $400,000, and factory payroll cost in April is $222,000. Overhead costs incurred in April are: indirect materials, $29,000; indirect labor, $12,000; factory rent, $19,000; factory utilities, $11,000; and factory equipment depreciation, $29,700. The predetermined overhead rate is 45% of direct labor cost Job 306 is sold for $420,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 30 Job 308 Balances on March 31 Direct materials Direct labor Applied overhead 9,000 14,000 6,300 $14,000 13,000 5,850 Costs during April Direct materials Direct labor Applied overhead 160,000 54,000 75,000 120,000 95,000 36,000 Status on April 30 Finished (sold) Finished (unsold) In process value: 10.00 points Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). (Leave no cells blank -be certain to enter "O" wherever required. Omit the "$" sign in your response. )

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_2

Step: 3

blur-text-image_3

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

Auditing Humor And Other Oxymorons

Authors: Mr Mike Jacka

1st Edition

0991280903, 978-0991280902

More Books

Students also viewed these Accounting questions