Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help me thank you Angry Birds, Inc. designs and builds retaining walls for individual customers. On August 1, 2 jobs were in process: Level

please help me thank you image text in transcribed
image text in transcribed
Angry Birds, Inc. designs and builds retaining walls for individual customers. On August 1, 2 jobs were in process: Level 1 with a beginning balance of $12,000 and Level 2 with a beginning balance of $8,600. During August, Level 3 and Level 4 were started. Levels 1 and 2 were sold at cost plus 40% during August. All other jobs remained in process at month end. The company applies manufacturing overhead at a rate of $11 per direct labor hour. Direct labor wages average $12 per hour. The following additional cost information is available for August Direct Materials Direct Labor Level 1 $1,200 $1,800 Level 2 $8,000 $4,800 Level 3 $2,100 $360 Level 4 $3,000 $1.200 The sales staff is paid a 2% commission on all sales for the period. The company closes out the total overlunderapplied manufacturing overhead to Cost of Goods Sold at the end of each month. Calculate the following given actual MOH of $8.200 incurred during August The amount of MOH applied to all jobs in process during August equals The adjusted COGS reported on the Income Statement for August equals The gross profit reported on the Income Statement for August equals $ Enter your answer in each of the answer boxes 1155561-27805590 s. Atc 5558, The sales staff is paid a 2% commission on all sales for the period. The company closes out the total over/underapplied manufacturing overhead to Cost of Goods Sold at the end of each month. Calculate the following given actual MOH of $8,200 incurred during August The amount of MOH applied to all jobs in process during August equals : xpei The adjusted COGS reported on the Income Statement for August equals $ The gross profit reported on the Income Statement for August equals $ The ending work in process balance reported on the Balance Sheet for August equals $ Round final answers to the nearest dollar

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

ISO 9001 2015 Audit Procedures

Authors: Ray Tricker

4th Edition

1138025895, 978-1138025899

More Books

Students also viewed these Accounting questions

Question

1. How might volunteering help the employer and the employee?

Answered: 1 week ago