Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please give answers for each question Accounting records for Antoinette Designs (AD) for November show the following (each entry is the total of the actual

Please give answers for each question
image text in transcribed

Accounting records for Antoinette Designs (AD) for November show the following (each entry is the total of the actual entries for the account for the month): Accout Titles Work-in-Process Inventory (Direct Labor) Wages Payable Direct Materials Inventory Accounts Payable Finished Goods Inventory Work-in-Process Inventory Cost of Goods Solda Finished Goods Inventory Dbi 7, 200 7, 200 122, 130 122,130 136,800 136, 131,400 131,400 aThis entry does not include any over- or underapplied overhead. Ovew or underapplied overhead js written off to Cost of Goods Sold once for the month. For November. the amount written off was 5 percent of overhead applied for November Overhead iS applied on the basis of direct labor costs. The Work-in-Process Inventory ending account balance on November 30 was 125 percent of the begtnnjng balance The Direct Materials Inventory ending balance on November 30 was $2,250 less than the beginning balance_ The Finished Goods Inventory beginning balance on November 1 was $13,320. The September income statement shows revenues of $207.000 and a gross profit Of $76,500. Required: a. What was the finished goods inventory balance on November 307 b. How much manufacturing overhead was applied for November? c. What was the manufacturing overhead rate for November? d. How much manufacturing overhead was incurred for November? e. What was the Work-in-Process Inventory on November 1? f. What was the Work-in-Process Inventory on November 30?

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

Product Costing Concepts And Applications

Authors: Ralph S. Polimeni

3rd Edition

0072390840, 978-0072390841

More Books

Students also viewed these Accounting questions

Question

L A -r- P[N]

Answered: 1 week ago