Problem 7-54 (Algo) Finding Missing Data (LO 7-2, 3) could tecover only a fow fragments of the company's foctory lediger for March as follows. Further ivessgation and reconstruction from other sources yielded the foldwing adseional infermstion - The controles remembers cleaty that actual manulacturing overhead costs are tecorded at 317 per dreet labor houl, (The compay osigns octud overnead to Workin-Process inventery) - The production superintendents cost sheets thowed only one job in Work- Process inventory on Marct 11 . Materias of 516.500 had been added to the job, and 340 drect labor-hours had been expended at 534 per hour, - The Accounts Payabie are for drect moterials purchases onty, sccording to the accounts payable cierk, He clearly remembers that the botance in the account was 536,600 on March 1, An andysis of canceled checks frept in the tieasurers officel thawn that payenents of $251300 wore made to supolers during the month. - The peyroli ledget shows that 5.300 diect laborheurs were recorded for the montis. The employment depecunent nas verified that there ore no variations in pay rates among employees (this infurated steve funch who belicked that bis servces were underpaidf - Records meintained in the finishied goods worehouse indicate that the trished goods ifvertory totaled $108,800 en N arch 1 - The cost of goods manufactured in March was $554,100 Required: Delemine the follewing smounts: a. Work in process invertory. Mareh 31 b. Drect malerials purchetsed during March. C. Actual manufacturing owerheod incured during March. d. Cost of goods sold for March. Problem 7-54 (Algo) Finding Missing Data (LO 7-2, 3) could tecover only a fow fragments of the company's foctory lediger for March as follows. Further ivessgation and reconstruction from other sources yielded the foldwing adseional infermstion - The controles remembers cleaty that actual manulacturing overhead costs are tecorded at 317 per dreet labor houl, (The compay osigns octud overnead to Workin-Process inventery) - The production superintendents cost sheets thowed only one job in Work- Process inventory on Marct 11 . Materias of 516.500 had been added to the job, and 340 drect labor-hours had been expended at 534 per hour, - The Accounts Payabie are for drect moterials purchases onty, sccording to the accounts payable cierk, He clearly remembers that the botance in the account was 536,600 on March 1, An andysis of canceled checks frept in the tieasurers officel thawn that payenents of $251300 wore made to supolers during the month. - The peyroli ledget shows that 5.300 diect laborheurs were recorded for the montis. The employment depecunent nas verified that there ore no variations in pay rates among employees (this infurated steve funch who belicked that bis servces were underpaidf - Records meintained in the finishied goods worehouse indicate that the trished goods ifvertory totaled $108,800 en N arch 1 - The cost of goods manufactured in March was $554,100 Required: Delemine the follewing smounts: a. Work in process invertory. Mareh 31 b. Drect malerials purchetsed during March. C. Actual manufacturing owerheod incured during March. d. Cost of goods sold for March
