Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 6 0.5 pts Use the following information to answer questions 6 to 8 Yamato Manufacturing has the following beginning and ending account balances: Beginning
Question 6 0.5 pts Use the following information to answer questions 6 to 8 Yamato Manufacturing has the following beginning and ending account balances: Beginning Balance Ending Balance Raw Materials Work-in-Process Finished Goods Inventory $35,000 $0 $52,000 $30,000 $0 $49,000 54 Yamato allocates overhead based on direct labor hours using budgeted allocation rates. At the beginning of the year Yamato estimated overhead for the year to be $400,000 and direct labor cost and direct labor hours for the year to be $200,000 and 10,000 hours. Actual direct labor information during the year was $190,000 in direct labor costs and 9,000 direct labor hours. Actual overhead incurred was $350,000. Purchases of raw materials for the year were $225,000. How much direct materials was used in the period (assuming all materials used were direct)? Question 7 0.5 pts Using the above information, how much overhead was applied? Question 8 1 pts Using the above information, how much is the Cost of Goods Manufactured (assume any over/under applied overhead has not been applied)
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