Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials Inventory has a March 31 balance of

image text in transcribed
image text in transcribed
The Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials Inventory has a March 31 balance of $85,600. b. Raw materials purchases in April are $514,000, and total factory payroll cost in April is $377,000. c. Actual overhead costs incurred in April are indirect materials, $53,500; indirect labor, $26,500, factory rent, $35,500; factory utilities, $22,500; and factory equipment depreciation, $54,500. d. Predetermined overhead rate is 50% of direct labor cost. e. Job Hawk is sold for $649.000 cash in April. Determine the total cost assigned to each job as of Apri 30 (including the balances from March 31). 10pts. That is the total manufacturing cost for Adril? (show vour work)? 5 nts. \begin{tabular}{|c|c|c|c|c|} \hline \multirow{2}{*}{ March } & \multirow[t]{2}{*}{ Job Hawk } & Job Tiger & Job Bear & \multirow[t]{2}{*}{ April Total } \\ \hline & & & & \\ \hline Direct materials & 34,600 & 40,600 & & \\ \hline Direct labor & 25,600 & 23,600 & & +2 \\ \hline Overhead applied & 15,600 & 14,600 & & \\ \hline \multicolumn{5}{|l|}{ Work in process, beginning } \\ \hline \multicolumn{5}{|l|}{ April } \\ \hline \begin{tabular}{|l|l|} Direct materials \\ \end{tabular} & 149.000 & 234,000 & 114,000 & 497,000 \\ \hline Direct labor & 90,600 & 164,000 & 119,000 & 373,600 \\ \hline \multicolumn{5}{|l|}{ Overhead applied } \\ \hline \multicolumn{5}{|l|}{ Costs added in Aprit } \\ \hline Total costs & E & & & \\ \hline Status on April 30 & Finlshed (sold) & Finished (unsold) & In process & \\ \hline April 30 cost included in: & & & r & \\ \hline \end{tabular}

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

Cost And Management Accounting

Authors: Duncan Williamson

1st Edition

0132059231, 978-0132059237

More Books

Students also viewed these Accounting questions

Question

Find (a) P[Z Answered: 1 week ago

Answered: 1 week ago