Question
PLEASE JUST ANSWER 6-10. Thank you. Use the following to answer questions 1-10: The following information is available for the year ended December 31, 2020:
PLEASE JUST ANSWER 6-10. Thank you.
Use the following to answer questions 1-10: The following information is available for the year ended December 31, 2020: Direct materials inventory, December 31, 2019 Direct materials inventory, December 31, 2020 WIP, January 1, 2020 WIP, December 31, 2020 Finished goods, January 1, 2020 Finished goods, December 31, 2020 Direct labor costs for the year Actual overhead incurred Cost of goods sold Overhead application rate Units manufactured $25,000 5,000 56,000 28,000 90,000 60,000 100,000 300,000 400,000 140% of direct labor cost 200,000 units The company prices its product at 150% of full manufacturing cost. REQUIRED: COMPUTE THE FOLLOWING: (show computations on opposite page if needed) Cost of goods manufactured: $ Applied overhead: $ Direct materials used
The following information is available for the year ended December 31, 2020: The company prices its product at 150% of full manufacturing cost. REQUIRED: COMPUTE THE FOLLOWING: (show computations on opposite page if need 1. Cost of goods manufactured: $ 2. Applied overhead: \$ 3. Direct materials used: $ 4. Direct materials purchased: \$ 5. Full manufacturing cost per unit: $ Page 2 6. Cost of goods available for sale: $ 7. Mis-applied overhead (give amount and direction): \$ 8. Journal entry to dispose of mis-applied overhead: (show computations) 9. GAAP cost of goods sold: \$ The following information is available for the year ended December 31, 2020: The company prices its product at 150% of full manufacturing cost. REQUIRED: COMPUTE THE FOLLOWING: (show computations on opposite page if need 1. Cost of goods manufactured: $ 2. Applied overhead: \$ 3. Direct materials used: $ 4. Direct materials purchased: \$ 5. Full manufacturing cost per unit: $ Page 2 6. Cost of goods available for sale: $ 7. Mis-applied overhead (give amount and direction): \$ 8. Journal entry to dispose of mis-applied overhead: (show computations) 9. GAAP cost of goods sold: \$Step by Step Solution
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