Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

WQ-20:* A)Job-cost records for Boucher Company contained the following data: Total cost Date Date Finished- Jun-12Jun-20 Jun-19+'.. Jun-21+' Date of job as Sold+' Started- at

image text in transcribed

WQ-20:* A)Job-cost records for Boucher Company contained the following data: Total cost Date Date Finished- Jun-12Jun-20 Jun-19+'.. Jun-21+' Date of job as Sold+' Started- at June 30- Job No.+' 220 221+, 222+, 223 * May-18 $6,000 May-20+ Jun-07., Jun-10 +' 4,000+' +' +' ^ .: Jul-05+' Jul-12+'e 7,000+' Jun-28Jul-016,500 Required: i. Compute WIP inventory at June 30. ii Compute finished goods inventory at June 30. i Compute cost of goods sold for June. B) Fox Manufacturing is a small textile manufacturer using machine-hours as the single indirect-cost rate to allocate manufacturing overhead costs to the various jobs contracted during the year. The following estimates are provided for the coming year for the company and for the Maize High School Science Olympiad Jacket job. Company $50,000 10,000 40,000 100,000 m Maize High School Job- $500 $100 Direct materials Direct manufacturing labor Manufacturing overhead costse Machine-hours 800 mh Required:+ i. For Fox Manufacturing, determine the annual manufacturing overhead cost-allocation rate. ii. Determine the amount of manufacturing overhead costs allocated to the Maize High School job. i. Determine the estimated total manufacturing costs for the Maize High School job

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

Quality Audits Are Fun Journal Notes Checklists Questions Observations Evidence Log

Authors: Just Visualize It, The Quality Guy

1st Edition

1726628981, 978-1726628983

More Books

Students also viewed these Accounting questions