Use the Following Information to Answer the Questions Below. 

Our Business had the Following Costs and Balances For the Year Ended December 31st, Begin Raw Materials=$22,000 Raw Materials Purchased=$155,000 Raw Materials Used In-Directly=$24,000 Raw Materials Used Directly into BMX Bikes=$40,000 Raw Materials Used Directly into Mtn Bikes=$90,000 Begin Work-in-Process Costs BMX=ZERO Begin Work-in-Process Costs Mtn Bikes=$38,000 Direct Labor Costs for BMX=$80,000 Direct Labor Costs for Mtn Bikes=$190,000 Finance Costs = $35,000 Factory Equipment =$88,000, CPA Costs=$55,000, Factory Tools =$25,000, In-Direct Factory Labor=$33,000, Marketing Costs =$18,000, Factory Rent =$67,000 Manufacturing Overhead is Charged to Jobs using an MOH Rate of 180% of Direct Material Costs 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. Mountain Bikes (Mtn) Unit Details are Shown Below; 3,000 Units Fully Completed during the Month. 1,000 Units were partially completed (End WIP Units are 20% complete for DM, DL, MOH) 3,000 Units were Sold to Target with a 40% Markup over Cost. QUESTIONS Compute the Ending Balance in the Raw Materials Account at Year End = Compute the Total Manufacturing Overhead Applied during the Year= Compute the Actual Manufacturing Overhead Costs Incurred for the Year= Compute the Manufacturing Overhead Dollar Account Balance at Year End = Is the MOH Balance OVER or UNDER Applied ? = USE all Capital Letters. Compute the MOH Account Balance Variance Percent.

Show your Answer as a Percent out 2 Decimal Places. Is the MOH Balance Reasonable using a 5% standard, YES or NO ? = USE all Capital Letters. Compute the Total Work In Process Costs for BMX Bikes = Compute the Total Work In Process Costs for Mtn Bikes 

Compute the Total Equivalent Units of Production for BMX Bikes = Compute the Total Equivalent Units of Production for Mtn Bikes Compute the Cost Per Equivalent Unit of Production for BMX Bikes 

Show your answer out 2 Decimals to the Nearest Penny if Needed. Compute the Total Cost of Goods Manufactured (COGM) for BMX Bikes = Compute the Cost Per Equivalent Unit of Production for Mountain Bikes

Show your answer out 2 Decimals to the Nearest Penny if Needed. Compute the Total Cost of Goods Manufactured (COGM) for Mountain Bikes = Compute the Cost of Goods Sold for all Jobs for the Month 

Compute the Total Sales Revenues for All Jobs for the Month =

Compute the Total Gross Profit for All Jobs 

Compute the Total Net Income for All Jobs = Compute the Amount Charged to Target for One Mountain Bike = Show your answer out 2 Decimals to the Nearest Penny if Needed.

Answer rating: 100% (QA)

Answer Okay lets go through the questions one by one 1 Compute the Ending Balance in the Raw Materials Account at Year End Ending Raw Materials Beginning Raw Materials Raw Materials Purchased Raw Mate... View the full answer