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Problem 1 (20 points) MJA, materials (MJA Inc has one production overhead are added At evenly are added at the beginning of Labor and for

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Problem 1 (20 points) MJA, materials (MJA Inc has one production overhead are added At evenly are added at the beginning of Labor and for throughout the the pertains to work in process process. The information Materials Direct overhead Physical Beginning work-in- units. units process inventory 1,900 (40% $50,650 $26.199 $21,833 complete) Units completed End 16.000 units work-in- 1500 units process inventory (60% complete) Direct during April Direct Labor s219,200 (8.000 pounds s27 40 per pound) Overhead is applied 7.250 hours Additional using a predetermined rate of $10 per direct labor hour There was not any beginning Finished Goods MJA sold 15,000 units $40 inventory for April. MJA had variable Selling & $5 per unit MJA had fixed Selling Administrative expense of & Administrative expense of $27.000 Required ON THE PAGES: 1. What is the amount of the total during prime cost added 2. What is the amount of the total conversion cost a 3. Determine the number of units started in during April? 4- Compute the equivalent units using the weighted-average method 5. Compute the cost per equivalent unit using the weighted-average method 6. Compute the costs of goods transferred out to finished goods and the ending work-in-process inventory using the weighted-average method. 7. Compute the cost of goods sold (total and per unit) 8. Create a contribution margin income statement for MJA (treat the coGS per unit as variable cost) 9. Create the journal entries for the following (a) DM, DL and OH added during April (b) Cost of Goods Manufactured 10. (c) Cost of Goods Sold (cash paid). Final oH costs have been determined to be s71.250 (a) Complete the journal entry to record actual OH. (b) Determine over- or under-applied OH. journal entry to close the (c) Assume the amount is immaterial and create the OH account. Problem 1 (20 points) MJA, materials (MJA Inc has one production overhead are added At evenly are added at the beginning of Labor and for throughout the the pertains to work in process process. The information Materials Direct overhead Physical Beginning work-in- units. units process inventory 1,900 (40% $50,650 $26.199 $21,833 complete) Units completed End 16.000 units work-in- 1500 units process inventory (60% complete) Direct during April Direct Labor s219,200 (8.000 pounds s27 40 per pound) Overhead is applied 7.250 hours Additional using a predetermined rate of $10 per direct labor hour There was not any beginning Finished Goods MJA sold 15,000 units $40 inventory for April. MJA had variable Selling & $5 per unit MJA had fixed Selling Administrative expense of & Administrative expense of $27.000 Required ON THE PAGES: 1. What is the amount of the total during prime cost added 2. What is the amount of the total conversion cost a 3. Determine the number of units started in during April? 4- Compute the equivalent units using the weighted-average method 5. Compute the cost per equivalent unit using the weighted-average method 6. Compute the costs of goods transferred out to finished goods and the ending work-in-process inventory using the weighted-average method. 7. Compute the cost of goods sold (total and per unit) 8. Create a contribution margin income statement for MJA (treat the coGS per unit as variable cost) 9. Create the journal entries for the following (a) DM, DL and OH added during April (b) Cost of Goods Manufactured 10. (c) Cost of Goods Sold (cash paid). Final oH costs have been determined to be s71.250 (a) Complete the journal entry to record actual OH. (b) Determine over- or under-applied OH. journal entry to close the (c) Assume the amount is immaterial and create the OH account

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