Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 2. (10 Marks) The following cost data relate to the manufacturing activities of the Kookabuka Company during the most recent year Manufacturing overhead costs
Question 2. (10 Marks) The following cost data relate to the manufacturing activities of the Kookabuka Company during the most recent year Manufacturing overhead costs incurred during the year Property taxes $ 1,600 Utilities, factory 2,600 Indirect labour 5.100 Depreciation, factory 13,000 Insurance, factory 2.500 Total actual costs $24,800 Other costs incurred during the year Purchases of raw materials $15,000 Drect labour cost 22.000 Inventories Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $5,000 4,400 3.500 4,500 The company uses a predetermined overhead rate to charge overhead cost to production. The rate for the year just completed was $4.00 per machine hour, a total of 6,000 machine hours were recorded for the year Required a Compute the amount of under - or over applied overhead cost for the year just ended (2 Marks) b. Prepare a schedule of cost of goods manufactured for the year. (8 Marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started