Our Business had the Following Costs and Balances For the Year Ended December 31^st,

Begin Raw Materials=$22,000

Raw Materials Purchased=$155,000

Raw Materials Used In-Directly=$24,000

Raw Materials Used Directly into BMX Bikes=$88,000

Raw Materials Used Directly into Mtn Bikes=$54,000

Begin Work-in-Process Costs BMX=ZERO

Begin Work-in-Process Costs Mtn Bikes=$38,000

Direct Labor Costs for BMX=$80,000

Direct Labor Costs for Mtn Bikes=$190,000

Finance Costs = $35,000

Factory Equipment =$88,000, CPA Costs=$55,000,

Factory Tools =$25,000, In-Direct Factory Labor=$33,000,

Marketing Costs =$18,000, Factory Rent =$67,000

Manufacturing Overhead is Charged to Jobs using an MOH Rate of 180% of Direct Material Cost

BMX Bikes Unit Details are Shown Below;

• 1,200 Units were Fully Completed during the Month.
• 500 Units were partially completed (End WIP Units are 80% complete for DM, DL, MOH)
• 1,100 Units were Sold to Target with a 50% Markup over Cost.

Mountain Bikes (Mtn) Unit Details are Shown Below;

• 3,000 Units Fully Completed during the Month.
• 1,000 Units were partially completed (End WIP Units are 20% complete for DM, DL, MOH)
• 3,000 Units were Sold to Target with a 40% Markup over Cost.

QUESTIONS

1. Compute the Ending Balance in the Raw Materials Account at Year End =
2. Compute the Total Manufacturing Overhead Applied during the Year=
3. Compute the Actual Manufacturing Overhead Costs Incurred for the Year=
4. Compute the Manufacturing Overhead Dollar Account Balance at Year End =
5. Is the MOH Balance OVER or UNDER Applied ? = USE all Capital Letters.
6. Compute the MOH Account Balance Variance Percent = . Show your Answer as a Percent out 2 Decimal Places.
7. Is the MOH Balance Reasonable using a 5% standard, YES or NO ? = USE all Capital Letters.
8. Compute the Total Work In Process Costs for BMX Bikes =
9. Compute the Total Work In Process Costs for Mtn Bikes =
10. Compute the Total Equivalent Units of Production for BMX Bikes =
11. Compute the Total Equivalent Units of Production for Mtn Bikes
12. Compute the Cost Per Equivalent Unit of Production for BMX Bikes = . Show your answer out 2 Decimals to the Nearest Penny if Needed.
13. Compute the Total Cost of Goods Manufactured (COGM) for BMX Bikes =
14. Compute the Cost Per Equivalent Unit of Production for Mountain Bikes= Show your answer out 2 Decimals to the Nearest Penny if Needed.
15. Compute the Total Cost of Goods Manufactured (COGM) for Mountain Bikes =
16. Compute the Cost of Goods Sold for all Jobs for the Month =
17. Compute the Total Sales Revenues for All Jobs for the Month =
18. Compute the Total Gross Profit for All Jobs =
19. Compute the Total Net Income for All Jobs =
20. Compute the Amount Charged to Target for One Mountain Bike =