Use the Following Information to Answer the Questions Below (Show your WORK !!! somewhere) For the Year Ended December 31st, The JW Bike Business had the Following Costs and Balances Below; 1. Beginning Raw Materials=$12,000, Raw Materials Purchased = $55,000 2. Raw Materials Used In-Directly=$6,000 3. Raw Materials Used Directly into JOB#11=$40,000, Raw Materials Used Directly into JOB#12=$20,000 4. Begin Work-in-Process Job#11=Zero, End Work In Process Job#11=3,000, 5. Begin Work-in-Process Job#12=$9,000, End Work-In Process Job#12=Zero 6. There were No Beginning Finished Goods, End FG in Job#11=Zero, End FG in Job#12=$17,000 7. Direct Labor Costs for Job#11=$60,000, Direct Labor Costs for Job#12=$30,000, 8. In-Direct Factory Labor-$22,000, Sales Commissions=$13,000, Factory Rent =$33,000, 9. Accounting Salaries= $19,000, Factory Insurance and Utilities=$4,000, Advertising Costs=$7,000 10. All Manufacturing Overhead is Charged to Jobs using an MOH Rate of 70% of Direct Labor Costs 11. The Sales Revenue Charged to Customers was a 30% Markup over Cost.

Use the Following Information to Answer the Questions Below (Show your WORK III somewhere) For the Year Ended December 31*t, The JW Bike Business had the Following Costs and Balances Below; 1. Beginning Raw Materials =$12,000, Raw Materials Purchased =$55,000 2. Raw Materials Used In-Directly =$6,000 3. Raw Materials Used Directly into JOB #11=$40,000, Raw Materials Used Directly into JOB #12=$20,000 4. Begin Work-in-Process Job\#11=Zero, End Work In Process Job\#11=3,000, 5. Begin Work-in-Process Job\#12=\$9,000, End Work-In Process Job\#12=Zero 6. There were No Beginning Finished Goods, End FG in Job\#11=Zero, End FG in Job\#12=\$17,000 7. Direct Labor Costs for Job\#11 =$60,000, Direct Labor Costs for Job #12=$30,000, 8. In-Direct Factory Labor =$22,000, Sales Commissions =$13,000. Factory Rent =$33,000, 9. Accounting Salaries =$19,000, Factory Insurance and Utilities =$4,000, Advertising Costs =$7,000 10. All Manufacturing Overhead is Charged to Jobs using an MOH Rate of 70% of Direct Labor Costs 11. The Sales Revenue Charged to Customers was a 30% Markup over Cost. 51) Compute the Ending Balance in the]Raw Materials Account = 52) Compute the Following: a) The Total Actual Manufacturing Overhead Costs for the Year = b) The Total Manufacturing Overhead Applied During the Year= 53) Compute the Following: a) The Manufacturing Overhead Account Balance (Over or Under) at Year End = b) Is this Reasonable? using 5% as reasonable? = 54) Compute the Following: a) Total Manufacturing Costs(TMC) for JobH11 = b) Total Work In Process Costs for Jobil 11 = 55) Compute the Following: a) Total Manufacturing Costs(TMC) for Jobil 12= b) Total Work In Process Costs for Job12 = 56) Compute the Following: a) Cost of Goods Manufactured for Job\#11 = b) Cost of Goods Sold for JobH11 = 57) Compute the Following: a) Cost of Goods Manufactured for Job\$12 = 16-FALL-Mgr21-Guide-Ch3.doc (57.5 KB) a) Cost of Goods Manufactured for Job\#11= b) Cost of Goods Sold for Job\#11 57) Compute the Following: a) Cost of Goods Manufactured for Jobil12 = b) Cost of Goods Sold for Job\#12 = 58) Compute the Following: a) Sales Revenues for Job\#11 = b) Sales Revenues for Job\#12= 59) Compute the Following: a) Gross Profit for Joba11 = b) Gross Profit for Jobll12 = 60) Compute the Net income for All Jobs =