Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safe to stay in Protected View Enable Editing D11

image text in transcribed
image text in transcribed
PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safe to stay in Protected View Enable Editing D11 A C D E G H B 1 Exercise (need to be submitted) Niles Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the 2 just completed year: 3 Beginning inventories: 4 Raw materials 5 Work in process Estimated total manufacturing overhead at the beginning of the year 6 47,000 20,000 646,250 direct 47,000 labor hours Estimated direct labor-hours at the beginning of the year 7 8 Results of operations 9 10 11 + Raw materials purchased on account Raw materials (all direct) requisitioned for use in production Direct labor cost 12 Actual direct labor hours 538,000 535,000 899,000 direct 37 000 labor hours 13 Manufacturing overhead Indirect labor cost Other manufacturing overhead costs incurred Cost of goods manufactured 134,000 453,000 1,568,000 14 15 16 17 18 19 20 21 22 23 24 The ending balance in the Work in Process inventory account is: DR CR 25 20 TheT.chart for them.oh sont Applied 5-13 and cons Type here to search Cost How Schedule der or on o c - E F G 10 11 B Raw materials purchased on account Raw materials (al direct) requisitioned for use in production Direct labor cost 12 C D 538,000 535,000 699,000 direct 37,000 labor hours Actual direct labor hours 13 14 15 16 Manufacturing overhead Indirect labor cost Other manufacturing overhead costs incurred Cost of goods manufactured 134000 453,000 1,568,000 17 The ending balance in the Work in Process inventory account is: 18 19 20 21 22 23 DR CR + 24 25 26 27 28 29 30 31 The T-chart for the mig, oh, account is: Actual Applied 32 33 34 35 36 39 39 40 Mfg. OH. Is overapplied/underapplied (erele one) by 43 45 46 Reebits and credits BS 13 Events Jes and Accounts 15-update numbers 430 Cost Flow Schedule Under 1 Type here to search O c 1)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Data Analytics For Accounting

Authors: Vernon Richardson, Katie Terrell, Ryan Teeter

1st Edition

126406828X, 978-1264068289

More Books

Students also viewed these Accounting questions

Question

Describe key employee expectations.

Answered: 1 week ago

Question

Describe current business topics and their impact on HRM.

Answered: 1 week ago

Question

Define human resources management (HRM).

Answered: 1 week ago