Pineway Company uses normal costing in its job-costing system. Partially completed T-accounts and additional information for Pineway for 2017 are as follow (Click the icon to view the T-accounts.) (Click the icon to view the additional information.) Required T-accounts -X Finished Goods Control Direct Materials Control 1-1-2017 37,000 234.000 133,000 1-1-2017 880,000 Work-in-Process Control 1-1-2017 44,000 Dir. Manuf. labour 348,000 Manufacturing Overhead Allocated 10,000 925,000 Cost of Goods Sold Manufacturing Overhead Control 514,000 Print Done The cost of goods sold before proration of under or overallocated overhead was Requirement 6. What was the under- or overallocated manufacturing overhead in 2017? The under-or overallocated manufacturing overhead in 2017 was Enter any number in the edit fields and then continue to the next question. icon to view the T-account counts and additional information for Pineway for 20 Required - X 7b. Dispose of the unde hed Goods Control, and proratior nt Account Ball (After Prora cess Ods Sold 1. What was the amount of direct materials issued to production during 2017? 2. What was the amount of manufacturing overhead allocated to jobs during 2017? 3. What was the total cost of jobs completed during 2017? 4. What was the balance of work-in-process inventory on December 31, 2017? 5. What was the cost of goods sold before proration of under-or overallocated overhead? 6. What was the under-or overallocated manufacturing overhead in 2017? 7. Dispose of the under-or overallocated manufacturing overhead using the following: a. Write-off to Cost of Goods Sold b. Proration based on ending balances (before proration) in Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold 8. Using each of the approaches in requirement 7, calculate Pineway's operating income for 2017. 9. Which approach in requirement 7 do you recommend Pineway use? Explain your answer briefly. t 8. Using each of the ap te operating income or los ting loss.) se parenthe ncome/(loss) ent 9. Which approach in re Print Done mended approach is the number in the edit fields and then continue to the next question. es (Click the icon to view the T-accounts.) and additional information for Pineway for 2017 are as follows: (Click the icon to view the additional information) Required BI Requirement 75. Dispose of the under-or overallocated manufacturing overhead using proration based on ending balances (before proration) in Work-in-Process in Control, Finished Goods Control, and Cost of Goods Sold. ac Account Balance 1 Account (After Proration) SC Work-in-process Finished Goods BI Cost of Goods Sold in ac Total W Requirement 8. Using each of the approaches in requirement 7, calculate Pineway's operating income for 2017 S First call late operating income or loss using the write-off to cost of goods sold approach and then using the proration approach. (Use parentheses or a minus sign for an ating loss.) Write-off to Cost of Proration based on Goods Sold ending balances Operating income/loss) Requirement 9. Which approach in requirement 7 do you recommend Pineway use? Explain your answer briefly. This is preferred because of its The recommended approach is the Wmnas : SC in Enter any number in the edit fields and then continue to the next question, ad accuracy and the effect it has on operating income simplicity and the effect it has on operating income 47" CPU C
