Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Raw materials: Nov. 30= $10,000 Dec. 31= $12,000 work in progress: Nov. 30 = $15,000 Dec. 31= $20,000 Finished goods: Nov. 30=$7,500 Dec 31= $10,000
Raw materials: Nov. 30= $10,000 Dec. 31= $12,000
work in progress: Nov. 30 = $15,000 Dec. 31= $20,000
Finished goods: Nov. 30=$7,500 Dec 31= $10,000
Indirect materials: $5,000
Indirect labor :$7,000
Other overhead coast: $30,000
Factory Payroll (paid with cash): $57,000
Raw materials purchases (paid with cash): $40,000
Sales (received in cash): $200,000
As consultants, we are hired to help the company track and report costs. The following Tableau Dashboard is provided to assist us In our analysis. Inventories Work in Process Raw Materials Finished Goods $21.000 $18.000 $15.000 $12.000 $9.000 $6.000 $3.000 November 30 December 31 November 30 December 31 November 30 December 31 Factory Overhead for December Sales, Materials, and Payroll for December Indirect materials Indirect labor Factory payroll Raw materials purchases Total Overhead $42.000 Sales Other overhead costs Predetermined Overhead Rate Predetermined overhead rate based on direct labor cost 7096 *** + ableau 1. Compute cost of direct labor used. 2. Compute cost of direct materials used. 3. Compute cost of goods manufactured. 4. Compute cost of goods sold. (Do not consider any underapplied or overapplied overhead.) 1. Cost of direct labor used 2. Cost of direct materials used 3. Cost of goods manufactured 4. Cost of goods soldStep 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