Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

thank you -2 Gaiti Manufacturing uses nomai costing for iss job-cossing system, which has two direct-cost categones (direct materials and direct manulacturing labor) and one

thank you -2
image text in transcribed
Gaiti Manufacturing uses nomai costing for iss job-cossing system, which has two direct-cost categones (direct materials and direct manulacturing labor) and one indirect-cost. category (manufacturing overhead). The following information is obtained for 2020 (Crick the icon to view the data ) Requirements 1. Use information in the first two bullet points to caiculate (a) 2. Caloulate the ending work-in-process inventory on Decemb More info Requirement 1. Use information in the frst two bullet points to cas Marvifacturing. (a) First identify the formula to calculale the firect manufacturing Manufacturing oveheod alocated * Manufacturing overt The drect mansflacturing tabor costs in 2020 is (b) First isenty the formula to calculate the cost of direct material Total manutacturing cost "-1 Direct manif beor costs - Total manufacturing costs, $8,200,000 - Manufachuring overhead allocated, $3,650,000 (alocated at a rate of 250% of direct manufacturing labor costs) - Wonk-in-process inventory on January 1,2020, $340,000 - Cost of finished goods manufactured, $8,020,000. The cost of direct manerials used in 2020 is Requirement 2. Cabculate the endry work in process inventory on December 31,2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

IT Audit In China

Authors: LIU Ruzhuo

1st Edition

981428145X, 978-9814281454

More Books

Students also viewed these Accounting questions