Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help me with part 4. Thank you! 11:55 PM Thu Feb 11 73% 73% Done Practice+Set+2+28 Chapter+329 2. Vision Corporation had only one job
Please help me with part 4. Thank you!
11:55 PM Thu Feb 11 73% 73% Done Practice+Set+2+28 Chapter+329 2. Vision Corporation had only one job in process during May-Job XYZ-and had no finished goods inventory on May 1. Job XYZ was started in April and finished during May. Data concerning that job appear below: $5,200 Beginning work in process inventory Cost charged to the job during May: Direct materials $8,200 $2,200 Direct labor $4,200 120 Manufacturing overhead applied Units completed Units in process at the end of May Ending finished goods inventory 0 $11,550 In May, overhead was overapplied by $320. The company adjusts its cost of goods sold every month for the overhead that was underapplied or overapplied. 1) What is the total manufacturing cost charged to the job during the period? (Answer: $14,600) 2) What is the cost of good manufactured and unit product cost in May? (Answer: $19,800; $165/unit) 3) Determine the unadjusted cost of goods sold for May. (Answer: $8,250) 4) Determine the cost of goods sold adjusted for overapplied overhead. (Answer: $7,930)Step 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