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Please show all works, thank you! Question B: Cost Accounting System / Normal Costing GoRebs Company (GRC) produces elegant Speederl bobbleheads using a sophisticated 3D
Please show all works, thank you!
Question B: Cost Accounting System / Normal Costing GoRebs Company (GRC) produces elegant Speederl bobbleheads using a sophisticated 3D printing manufacturing process. GRC uses a normal costing system and DLHS to apply overhead to production. Any manufacturing overhead variance is closed to COGS at the end of the year. GRC sold 50 obbleheads during the past calendar year. The bobbleheads sell for 20 h. GoRebs Company's accounting records provide the following information for the past year: Estimated Manufacturing Overhead Estimated direct labor hours Estimated machine hours Actual direct labor hours Actual machine hours 500 100 20 120 40 ct labor hours (DLHS) thine hours (MH) ct labor hours (DLHS) chine hours (MH) 20 500 $ 100 $40 $20 Purchases of direct materials Direct materials inventory, January 1 Direct materials inventory, December 31 Direct labor dollars ...... Maintenance on factory equipment.. Depreciation, sales headquarters. Depreciation, factory equipment Property taxes on the factory Property taxes on sales headquarters Utilities, factory ..... Utilities, sales headquarters Insurance on the factory Salary, sales supervisor Commissions, salespersons Salary, Administration Work in process inventory, January 1 Work in process inventory, December 31.. Finished goods inventory, January 1 Finished goods inventory, December 31 Effective tax rate $ 30 $10 $ 20 $30 $ 40 $50 $ 60 $ 70 2096 pf sales $200 $ 400 $ 300 sl 100 $ 200 40% Required: 7. How much is Cost of Goods Manufactured for GoRebs Company? 8. How much is Adjusted Cost of Goods Sold for Go Rebs Company? 9. How much is Operating Income (before tax) closest to for GoRebs Company? Required: 7. How much is Cost of Goods Manufactured for GoRebs Company? 8. How much is Adjusted Cost of Goods Sold for GoRebs Company? 9. How much is Operating Income (before tax) closest to for GoRebs Company? 10. How much is Net Income (after tax) closest to for GoRebs CompanyStep by Step Solution
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