Question 1 The following costs were extracted from Red's company book at the end of December 2014 and presented to you the cost accountant for classification. Details $ 500,000 800,000 Required: Administrative charges Production supervisors salaries Salaries of production workers Depreciation of factory machinery Direct materials Depreciation of office furniture etc. Warehouse supervisors salaries Advertising charges Direct expenses Wages of truck drivers Commission paid to salesmen Office salaries Janitorial factory wages Training expenses for sales clerks (a) Prime cost. (b) Factory overheads. (c) Production cost. 250,000 20,000 300,000 50,000 200,000 350,000 100,000 200,000 500,000 350,000 300,000 180,000

Question 1 The following costs were extracted from Red's company book at the end of December 2014 and presented to you the cost accountant for classification. Details $ 500,000 800,000 Required: Administrative charges Production supervisors salaries Salaries of production workers Depreciation of factory machinery Direct materials Depreciation of office furniture etc. Warehouse supervisors salaries Advertising charges Direct expenses Wages of truck drivers Commission paid to salesmen Office salaries Janitorial factory wages Training expenses for sales clerks (a) Prime cost. (b) Factory overheads. (c) Production cost. 250,000 20,000 300,000 50,000 200,000 350,000 100,000 200,000 500,000 350,000 300,000 180,000

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 4P: Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2....

See similar textbooks

Similar questions

0 jor pro se Used Balances: Direct Materials Work-in-Process Inventory Finished Goods Inventory Data table Direct Materials Used: Direct Materials Used Print Other information: Depreciation, plant building and equipment Direct materials purchases Insurance on plant Sales salaries Repairs and maintenance-plant Indirect labor Direct labor Administrative expenses Manufacturing Overhead: Cost of Goods Manufactured Beginning Ending $ Done Total Manufacturing Overhead Total Manufacturing Costs incurred during the Year Total Manufacturing Costs to Account For Requirements 1. Use the information to prepare a schedule of cost of goods manufactured. 2. What is the unit product cost if Clark manufactured 4,380 lamps for the year? 57,000 $ 22,000 103,000 67,000 50,000 52,000 $ 4 Clark, Corp. Schedule of Cost of Goods Manufactured Year Ended December 31, 2024 11,000 155,000 23,000 43,000 13,000 40,000 125,000 53,000 - X
DOC-20221204-WA0015. - Unsaved G This document contains ink, shapes and images that ar... Administrative charges Production supervisors salaries Salaries of production workers Depreciation of factory machinery Direct materials Question 1 The following costs were extracted from Red's company book at the end of December 2014 and presented to you the cost accountant for classification. Details Depreciation of office furniture etc. Warehouse supervisors salaries Advertising charges Direct expenses Wages of truck drivers Commission paid to salesmen Office salaries mi Janitorial factory wages Training expenses for sales clerks 20 5 Required: (a) Administrative cost. (3 marks) (b) Selling cost. (3 marks) (c) Distribution cost. (3 marks) (d) Direct cost. (3 marks) $ 500,000 800,000 250,000 20,000 300,000 50,000 200,000 350,000 100,000 200,000 500,000 350,000 300,000 180,000 B IU 2 Α Ξ Ξ A TA =
ate dir and th ble for ory, Au ate fix verhea ate dir to ca August 2022 data Work-in-process inventory, August 1, 2022 Direct materials inventory, August 1, 2022 Direct materials purchased Direct materials used Variable manufacturing overhead Total manufacturing overhead Total manufacturing costs incurred during August 2022 Cost of goods manufactured Cost of goods sold Finished goods inventory, August 1, 2022 Print Done 215 75 335 385 265 485 1,610 1,690 1,700 220 X ean thes ust.
mework i ces W 3 ! Required information [The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the year ended December 31. Sales. Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases how ma Direct labor Indirect labor Repairs-Factory equipment Rent cost of factory building Selling expenses General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending Direct materials: Raw materials inventory, beginning Add: Raw materials purchases * Prepare its schedule of cost of goods manufactured for the year ended December 31. DELRAY MANUFACTURING Schedule of Cost of Goods Manufactured For Year Ended December 31 14 O 16 $ 2,700,000 112,000 146,000 190,000 515,000 618,000 93,000 74,000 148,000 237,000 $ 112,000 515,000 Q Search 379,000 134,000 175,000 228,000 17…
need answers for E2-4B & E2-5B! E2-4B Manufacturing cost data for Olsen Company, which uses a job order cost system, are presented below. Direct materials used Direct labor Manufacturing overhead applied Total manufacturing costs Work in process 1/1/14 Total cost of work in process Work in process 12/31/14 Cost of goods manufactured Case A $ (a) 50,000 37,500 135,650 (b) 213,300 (c) 193,200 Case B $ 78,000 120,000 (d) (e) 15,500 11,800 (g) Case C $ 72,600 (h) (i) 212,600 25,050 (j) (k) 222,000 Instructions Indicate the missing amount for each letter. Assume that in all cases manufacturing over- head is applied on the basis of direct labor cost and the rate is the same. E2-5B Pronto Kopy Company applies operating overhead to photocopying jobs on the basis of machine hours used. Overhead costs are expected to total $320,000 for the year, and machine usage is estimated at 125,000 hours. For the year, $308,000 of overhead costs are incurred and 130,000 hours are used.
CengageNOWv2 | Online teachin X + ow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress... A Selected accounts with some amounts omitted are as follows: Work in Process Oct. 1 Balance 20,700 Oct. 31 Goods finished X 31 Direct materials 90,100 31 Direct labor 151,500 31 Factory overhead X Finished Goods Oct. 1 Balance 15,300 326,200 31 Goods finished If the balance of Work in Process on October 31 is $200,300, what was the amount of factory overhead applied in October? Oa. $90.100 Ob. $264,200 Oc. $372,500 Od. $151,500 L C H Q % 5 JUL & 7 U 8 9 O
Your manager asks you to bring the following incomplete accounts of Endeavor Printing, Inc., up to date through January 31, 2017. Consider the data that appear in the T-accounts as well as the following information in items (a) through (j). Endeavor's normal-costing system has two direct-cost categories (direct material costs and direct manufacturing labor costs) and one indirect-cost pool (manufacturing overhead costs, which are allocated using direct manufacturing labor costs). Materials Control Wages Payable Control 12-31-2016 Bal. 30,000 1-31-2017 Bal. 6,000 Work-in-Process Control Manufacturing Overhead Control 1-31-2017 Bal. 114,000 Finished Goods Control Costs of Goods Sold 12-31-2016 Bal. 40,000 Additional information follows: a. Manufacturing overhead is allocated using a budgeted rate that is set every December. You forecast next year's manufacturing overhead costs and next year's direct manufactur- ing labor costs. The budget for 2017 is $1,200,000 for manufacturing overhead…
geNOWv2 | Online teachin X + n/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress... A Factory Overhead Costs Instructions Chart of Accounts Journal T Instructions During May, Lockmiller Company incurred factory overhead costs as follows: indirect materials, $34,500; indirect labor, $80,700; utilities cost, $13,400; and factory depreciation, $47,600. Required: Journalize the entry to record the factory overhead incurred as of May 30. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. I Previous a C Next 20
A company reports the following information: Direct Labor Direct Materials Used Raw Materials Purchased Cost of Goods Manufactured Ending Work-in-Process Inventory Corporate Headquarters' Property taxes Manufacturing Overhead Incurred Calculate the beginning balance of Work-in-Process Inventory O $4,500 O $5,000 O $21.000 59.400 $6,000 3.000 9,000 13,000 1.400 900 400
Referring to the question E2-26A in the textbook named Managerial Accounting by Pearson- 5th edition. The expenses named “ insurance on plant, depreciation-plant building and equipment and repairs and maintenance-plant “, how can we identify they are not a kind of indirect costs of manufacturing? For instance, insurance on plant is obvious an expenses because of manufacturing the product. Plus, What is the purpose of the question mention- Assume that the RM inventory contains only direct materials? Please instruct. Appreciated
Question (ii) Please to show working on how you arrived with the answers in the Journal entry also I need answer for (iv) along with working out . Please also take into consideration the following when approaching the questions: To record materials issued (Direct & Indirect) – Dr. WIP (Direct); Dr. Manufacturing O/H (Indirect); Cr Material Inventory Manufacturing Wages/Labour - Note that there are two ways of journalizing this cost · First Dr Manufacturing Wages; Cr Wages Payable; Then Dr WIP (Direct), Dr MO (Indirect), Cr Manufacturing Wages OR · Leave out Manufacturing Wages: Dr WIP (Direct), Dr MO (Indirect), Cr Wages Payable NOTE: Wages Payable may also be referred to as Accrued Wages or Accrued Payroll To record Other Manufacturing O/H Costs- Dr Manufacturing O/H; Cr Various A/Cs e.g. Prepaid Insurance, Accumulated Depreciation, Cash etc. To record Manufacturing O/H Applied: Dr WIP; Cr Manufacturing O/H To record Finished Goods: Dr FG; Cr WIP To record Units…
K You are a new accounting intern at Best Bikes. Your boss gives you the following information and asks you to compute the cost of direct materials used (assume that the company's raw mate inventory contains only direct materials). (Click the icon to view the information.) Direct materials used: Plus: Less: Calculation of Direct Materials Used Best Bikes Direct materials used Data table Import duties ... $ Beginning raw materials inventory ..... $ Ending raw materials inventory ......$ Freight-in .. S Freight-out S Purchases of direct materials $ 15,900 Print Done 1,400 3,700 1,900 400 500 - X