{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T17:06:53-04:00", "answer_date": "2024-05-26 17:06:53", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1750470", "url": "\/study-help\/questions\/required-information-the-following-information-applies-to-the-questions-1750470", "question_creation_date_js": "2024-05-26T17:06:53-04:00", "question_creation_date": "May 26, 2024 05:06 PM", "meta_title": "[Solved] ! Required information [The following inf | SolutionInn", "meta_description": "Answer of - ! Required information [The following information applies to the questions displayed below.] Bunnell Corporation is a | SolutionInn", "meta_keywords": "required,information,applies,questions,displayed,below,bunnell,corporation,manufacturer,job-order,costing,january", "question_title_h1": " ! Required information [The following information applies to the questions displayed below.] Bunnell Corporation is a manufacturer that uses job-order costing. On January 1,", "question_title": " ! Required information [The following information applies to the questions displayed", "question_title_for_js_snippet": " Required information The following information applies to the questions displayed below Bunnell Corporation is a manufacturer that uses job order costing On January 1, the company's inventory balances were as follows Raw materials Work in process Finished goods $ 48,000 $ 19,400 $ 56,100 The company applies overhead cost to jobs on the basis of direct labor hours For the current year, the company's predetermined overhead rate of $14 75 per direct labor hour was based on a cost formula that estimated $590,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor hours The following transactions were recorded for the year a Raw materials were purchased on account, $590,000 b Raw materials used in production, $546,400 All of of the raw materials were used as direct materials c The following costs were accrued for employee services direct labor, $540,000 indirect labor, $150,000 selling and administrative salaries, $250,000 d Incurred various selling and administrative expenses (e g , advertising, sales travel costs, and finished goods warehousing), $394,000 e Incurred various manufacturing overhead costs (e g , depreciation, insurance, and utilities), $440,000 f Manufacturing overhead cost was applied to production The company actually worked 41,000 direct labor hours on all jobs during the year g Jobs costing $1,610,950 to manufacture according to their job cost sheets were completed during the year h Jobs were sold on account to customers during the year for a total of $3,082,500 The jobs cost $1,620,950 to manufacture according to their job cost sheets ", "question_description": "\"image\"image\"image\"image\"image\"image\"image\"image\"image\"image\"image\"image\"image\"image\"image\"image", "transcribed_text": "! Required information [The following information applies to the questions displayed below.] Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials Work in process Finished goods $ 48,000 $ 19,400 $ 56,100 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $14.75 per direct labor-hour was based on a cost formula that estimated $590,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year: a. Raw materials were purchased on account, $590,000. b. Raw materials used in production, $546,400. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $540,000; indirect labor, $150,000; selling and administrative salaries, $250,000. d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing), $394,000. e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $440,000. f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year. g. Jobs costing $1,610,950 to manufacture according to their job cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3,082,500. The jobs cost $1,620,950 to manufacture according to their job cost sheets.", "related_book": { "title": "Accounting for Governmental and Nonprofit Entities", "isbn": "78110939, 978-0078110931", "edition": "16th Edition", "authors": "Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/273.jpg", "uri": "\/textbooks\/accounting-for-governmental-and-nonprofit-entities-16th-edition-273", "see_more_uri": "" }, "free_related_book": { "isbn": "1118855825", "uri": "\/textbooks\/veterinary-pharmacology-and-therapeutics-10th-edition-9781118855829-122502", "name": "Veterinary Pharmacology And Therapeutics", "edition": "10th Edition" }, "question_posted": "2024-05-26 17:06:53", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-21", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/4-23-pts-a-plate-is-loaded-so-that-a-716682", "description": "4. (23 pts) A plate is loaded so that a state of plane strain (Ezz- &zx=&zy =0) exists. 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Let p1, p2, and p3 be the probabilities that the first, second, and third player answer a question correctly. The game...", "stars": 3 }, { "url": "\/if-matlin-is-covered-by-the-policy-but-is-also", "description": "If Matlin is covered by the policy but is also disqualified by his misrepresentation on the application for coverage, might the insurer still be liable for bad faith denial of coverage? Explain....", "stars": 3 }, { "url": "\/study-help\/questions\/briel-exercise-162-your-answer-is-partialy-correct-try-again-9876443", "description": "Briel Exercise 16-2 Your answer is partialy correct. Try again. Warner Company purchases $52,900 af raw materials on account,and it incurs $61,40D of factory labar costs. Supporting records shaw that...", "stars": 3 }, { "url": "\/violins-and-more-produces-studentgrade-violins-for-beginning-violin-students", "description": "Violins and More produces student-grade violins for beginning violin students. 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