Requirements 7b, 8, 9

Requirement 1. What was the amount of direct materials issued to production during

20142014??

Direct materials issued to production during

20142014

was

?$230000230000.

Requirement 2. What was the amount of manufacturing overhead allocated to jobs during

20142014??

First identify the formula to calculate the manufacturing overhead allocated.

Direct manufacturing labor hours

x

Manufacturing overhead rate

=

Manufacturing overhead allocated

Manufacturing overhead allocated to jobs during

20142014

was

?$455000455000.

Requirement 3. What was the total cost of jobs completed during

20142014??

The total cost of jobs completed during

20142014

was

?$923,380923,380.

Requirement 4. What was the balance of? work-in-process inventory on December? 31,

20142014??

Post the entries during the year in the? Work-in-process control account to determine the ending balance on December? 31,

20142014.

Be sure to select reference labels for each of the entries.

Work-in-Process Control
112014	40,000	Transferred to finished goods	923,380
Direct manufacturing labor	350,000
Direct materials	230,000
Manufacturing Overhead allocated	455,000
12312014	151,620

Requirement 5. What was the cost of goods sold before proration of? under- or overallocated? overhead?

Cost of goods sold? (before proration)? =

?$758,100758,100.

Requirement 6. What was the? under- or overallocated manufacturing overhead in

20142014??

?(Use parentheses or a minus sign when entering overallocated? amounts.)

The? under- or overallocated manufacturing overhead in

20142014

was

?$5700057000.

Requirement 7a. Dispose of the? under- or overallocated manufacturing overhead using the writeoff to Cost of Goods Sold.

The Cost of goods sold account balance after the? write-off is

?$815100815100.

Requirement 7b. Dispose of the? under- or overallocated manufacturing overhead using proration based on ending balances? (before proration) in? Work-in-Process Control, Finished Goods? Control, and Cost of Goods Sold.

Enter the account balances before? proration, then the adjustment amounts and? finally, calculate the account balances after proration.

	Account Balance
Account	(Before Proration)
Work-in-Process
Finished Goods
Cost of Goods Sold
Total