QUESTIONS

1. Compute the Ending Balance in the Raw Materials Account at Year End =
2. Compute the Total Manufacturing Overhead Applied during the Year=
3. Compute the Actual Manufacturing Overhead Costs Incurred for the Year=
4. Compute the Manufacturing Overhead Dollar Account Balance at Year End =
5. Is the MOH Balance OVER or UNDER Applied? = USE all Capital Letters.
6. Compute the MOH Account Balance Variance Percent =. Show your Answer as a Percent out of 2 Decimal Places.
7. Is the MOH Balance Reasonable using a 5% standard, YES or NO? = USE all Capital Letters.
8. Compute the Total Work In Process Costs for BMX Bikes =
9. Compute the Total Work In Process Costs for Mtn Bikes =
10. Compute the Total Equivalent Units of Production for BMX Bikes =
11. Compute the Total Equivalent Units of Production for Mtn Bikes
12. Compute the Cost Per Equivalent Unit of Production for BMX Bikes =. Show your answer out 2 Decimals to the Nearest Penny if Needed.
13. Compute the Total Cost of Goods Manufactured (COGM) for BMX Bikes =
14. Compute the Cost Per Equivalent Unit of Production for Mountain Bikes= Show your answer out 2 Decimals to the Nearest Penny if Needed.
15. Compute the Total Cost of Goods Manufactured (COGM) for Mountain Bikes =
16. Compute the Cost of Goods Sold for all Jobs for the Month =
17. Compute the Total Sales Revenues for All Jobs for the Month =
18. Compute the Total Gross Profit for All Jobs =
19. Compute the Total Net Income for All Jobs =
20. Compute the Amount Charged to Target for One Mountain Bike =

Transcribed Image Text:

Use the following Information to Answer the Questions Below. Our Business had the Following Costs and Balances For the Year Ended December 31st, 1. Begin Raw Materials=$22,000 2. Raw Materials Purchased-$155,000 3. Raw Materials Used In-Directly-$24,000 4. Raw Materials Used Directly into BMX Bikes-$40,000 5. Raw Materials Used Directly into Mtn Bikes=$90,000 6. Begin Work-in-Process Costs BMX-ZERO 7. Begin Work-in-Process Costs Mtn Bikes=$38,000 8. Direct Labor Costs for BMX=$80,000 9. Direct Labor Costs for Mtn Bikes=$190,000 10. Finance Costs = $35,000 11. Factory Equipment =$88,000, CPA Costs=$55,000, 12. Factory Tools =$25,000, In-Direct Factory Labor=$33,000, 13. Marketing Costs =$18,000, Factory Rent = $67,000 14. Manufacturing Overhead is Charged to Jobs using an MOH Rate of 180% of Direct Material Costs 15. BMX Bikes Unit Details are Shown Below; • 1,200 Units were Fully Completed during the Month. 。 500 Units were partially completed (End WIP Units are 80% complete for DM, DL, MOH) 1,100 Units were Sold to Target with a 50% Markup over Cost. O Use the following Information to Answer the Questions Below. Our Business had the Following Costs and Balances For the Year Ended December 31st, 1. Begin Raw Materials=$22,000 2. Raw Materials Purchased-$155,000 3. Raw Materials Used In-Directly-$24,000 4. Raw Materials Used Directly into BMX Bikes-$40,000 5. Raw Materials Used Directly into Mtn Bikes=$90,000 6. Begin Work-in-Process Costs BMX-ZERO 7. Begin Work-in-Process Costs Mtn Bikes=$38,000 8. Direct Labor Costs for BMX=$80,000 9. Direct Labor Costs for Mtn Bikes=$190,000 10. Finance Costs = $35,000 11. Factory Equipment =$88,000, CPA Costs=$55,000, 12. Factory Tools =$25,000, In-Direct Factory Labor=$33,000, 13. Marketing Costs =$18,000, Factory Rent = $67,000 14. Manufacturing Overhead is Charged to Jobs using an MOH Rate of 180% of Direct Material Costs 15. BMX Bikes Unit Details are Shown Below; • 1,200 Units were Fully Completed during the Month. 。 500 Units were partially completed (End WIP Units are 80% complete for DM, DL, MOH) 1,100 Units were Sold to Target with a 50% Markup over Cost. O

Answer rating: 100% (QA)

Answer 1 Beginning Raw Materials Raw Materials Purchased Raw Materials Used Ending Raw Materials 22000 155000 24000 40000 90000 13000 2 Total Manufact... View the full answer