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3 10 points BO Duternes Selected T-accounts of Moore Company are given below for the just completed year Raw Materials Manufacturing Overhead Bat. 1/1 35.000 Credits Debits 183,400 Credits Debits 160.000 Bat. 12/31 45,600 Work in process Factory wages Payable Bal. 1/1 40.000 Credits 530,000 Debits 225,000 Bal 11 19,000 Direct materials 110.000 Credits 220,000 Direct labor 210,000 Bat. 12/31 14.00 Overhead 218.400 Bat. 12/31 Finished Goods Cost of Goods Sold Bal. 1/1 60,000 Credits Debits Debits Bat. 12/31 90,000 Required: 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your answer 6. If overhead is applied to production on the basis of direct labor cost, what predetermined overhead role was in effect during the year? 2. Was manufacturing overhead underapplied or overapplied? By how much? 8. Compute the ending balance in Work in process. Assume that this balance consists entirely of goods started during the year. If $13,950 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Regio Rego Hey 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not indude any underapped or overopoled overhead in your answer Show less 1. Cost of raw materials 2. Indirect materials 3. Indirect labor cost 4 cost of goods mandatured 6. Oradused cost of goods sold Rege 3 Selected T-accounts of Moore Company are given below for the just completed year: Debits 10 points Manufacturing Overhead 188,400 Credits Bal. 1/1 Debits Bal. 12/31 Raw Materials 35,000 Credits 160,000 45,000 Work in Process 40,000 Credits 110,000 210,000 218,400 530,000 Debits Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Factory Wages Payable 225,000 Bal. 1/1 Credits Bal. 12/31 19,000 220.000 14,000 eBook Cost of Goods Sold References Finished Goods 60,000 Credits 7 90,000 Bal. 1/1 Debits Bal. 12/31 Debits Required: 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your answer. 6. If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? 2. Was manufacturing overhead underapplied or overopplied? By how much? 8. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $13,950 of this balance is direct tobor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Req 1 to 5 Reg 6 Reg 2 Req8 If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? The predetermined overhead rate was % of direct labor coat > 3 Selected T-accounts of Moore Company are given below for the just completed year: 10 points 7 Debits Bal. 1/1 Debits Bal. 12/31 Manufacturing Overhead 188,400 Credits 530,000 Debits Raw Materials 35,000 Credits 160.000 45,000 Work in Process 40,000 Credits 110,000 210,000 218.400 7 Finished Goods 60,000 Credits 7 90,000 Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Factory Wages Payable 225,000 Bal. 1/1 Credits Bal. 12/31 eBook 19,000 220,000 14,000 References Debits Bal. 1/1 Debits Bal. 12/31 Cost of Goods Sold 71 Required: 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your answer 6. If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the 2. Was manufacturing overhead underapplied or overapplied? By how much? 8. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $13,950 of this balance is direct tabor cost, how much of it is direct materials cost? Applied overhead cost? year? Complete this question by entering your answers in the tabs below. Reg 1 to 5 Reg 6 Req7 Reg 8 Was manufacturing overhead underapplied or overapplied? By how much? Manufacturing overhead was by 3 10 points Selected T-accounts of Moore Company are given below for the just completed year: Raw Materials Manufacturing Overhead Bal. 1/1 35,000 Credits Debits 188,400 Credits Debits 160,000 Bal. 12/31 45,000 Work in Process Factory Wages Payable Bal. 1/1 40,000 Credits 530,000 Debits 225,000 Bal. 1/1 Direct materials 110,000 Credits Direct labor 210,000 Bal. 12/31 Overhead 218,400 Bal. 12/31 7 Finished Goods Cost of Goods Sold Bal. 1/1 68,080 Credits Debits 71 Debits 7 Bal. 12/31 90,000 19,880 220,000 14,000 eBook References Required: 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your answer. 6. If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? 7. Was manufacturing overhead underapplied or overapplied? By how much? 8. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $13,950 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Req 1 to 5 Req6 Reg 7 Reg 8 Compute the ending balance in Work In Process. Assume that this balance consists entirely of goods started during the year. If $13,950 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Ending balance in the work in process Direct materials cost Applied overhead cost 4 Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): 10 points Selling expenses Purchases of raw materials Direct Labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 212,000 $ 263,000 7 $ 156,000 $ 373,000 $360,000 eBook Inventory balances at the beginning and end of the year were as follows: References Raw materials Work in process Finished goods Beginning Ending $ 59,000 $ 37,000 7 $ 28,000 $ 39,00 The total manufacturing costs added to production for the year were $685,000; the cost of goods available for sale totaled $725,000, the unadjusted cost of goods sold totaled $665,000, and the net operating income was $38.000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an Income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. COGS Income COGM Statement Schedule Schedule Prepare a schedule of cost of goods sold. Superior Company Schedule of Cont of Goods Sold Adjusted cost of goods sold 4 Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): 10 points $ 212,000 $ 263,000 Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 156,000 $ 373,000 $360,000 eBook References Inventory balances at the beginning and end of the year were as follows: Beginning Ending Raw materials $ 59,000 $ 37,000 Work in process 7 $ 28,000 Finished goods $ 39,000 7 The total manufacturing costs added to production for the year were $685,000, the cost of goods available for sale totaled $225,000; the unadjusted cost of goods sold totaled $665,000, and the net operating income was $38,000. The company's underapplied or overapplied overhead is closed to cost of Goods Sold Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income COGS COOM Statement Schedule Schedule Prepare a schedule of cost of goods manufactured. Superior Company Schedule of Cost Goods Manufactured Direct materials Total raw materials available Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for 0 Cost of goods manufactured COOS Schedule