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Please help and thanks Bakerston Company is a manufacturing firm that uses job-order costing. The company's inventory balanoes were as follows at the beginning and
Please help and thanks
Bakerston Company is a manufacturing firm that uses job-order costing. The company's inventory balanoes were as follows at the beginning and end of the year Raw materials Work in process Finished goods Beginning Balance S 12,000 S 32,300 S106,000 Ending Balance S 15,800 S 14,100 S123,000 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 17,900 machine-hours and incur $288,400 in manufacturing overhead cost. The following transactions were recorded for the year: - Raw materials were purchased, 5410,000 Raw materials were requisitioned for use in production, $408,400 (S382,000 direct and S24,400 indirect). The following employee costs were incurred: direct labor, S338,000; indirect labor, S73,000; and administrative salaries, S160,000 - Selling costs, $113,000 - Factory utility costs, S29,000 - Depreciation for the year was $129,000 of which S112,000 is related to factory operations and S17,000 general, and administrative activities is related to selling - Manufacturing overhead was applied to jobs. The actual level of activity for the year was 14,500 machine-hours. - Sales for the year totaled S1,290,000 Required: a. Prepare a schedule of cost of goods manufactured in good form. Do not round predetermined overhead rate. Input all amounts as positive values.)Step by Step Solution
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