Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help me answer requirement 7B. SHow calculations and work thanks Question Help -X T-accounts bn for Keezel for 2017 are as follows: Work-in-Process Control
Please help me answer requirement 7B. SHow calculations and work thanks
Question Help -X T-accounts bn for Keezel for 2017 are as follows: Work-in-Process Control Finished Goods Control Direct Materials Control 1-1- 2017 42,000 148,000 R c . X A More Info 1-1- 2017 82,000 105,000 700,000 1-1-2017 Dir. Manuf. 135,000 705,000 a. Manufacturing Overhead Control labor 285,000 Manufacturing Overhead Allocated Cost of Goods Sold Direct manufacturing labor wage rate was $15 per hour. b. Manufacturing overhead was allocated at $20 per direct manufacturing labor-hour. c. During the year, sales revenues were $1,550,000, and marketing and distribution costs were $810,000. 425,000 Print Done Done Print Done P4-42 (book/static) Question Help Keezel Company uses normal costing in its job-costing system. Partially completed T-accounts and additional information for Keezel for 2017 are as follows: (Click the icon to view the T-accounts.) (Click the icon to view the additional information.) Read the requirements. Requirement 7b. Dispose of the under- or overallocated manufacturing overhead using proration based on ending balances (before proration) in Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold. Enter the account balances before proration, then the adjustment amounts and finally, calculate the account balances after proration. Proration of Account Balance Over-or Underallocated Account Manufacturing Overhead Work-in-Process + (Before Proration) 190,000 110,000 700,000 Finished Goods + Cost of Goods Sold + $ 1,000,000 Total Enter any number in the edit fields and then click CheckStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started