13 Part 13 of 15 0.3 points eBook Print References Ant me a man -- way...

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13 Part 13 of 15 0.3 points eBook Print References Ant me a man -- way by an&m/ as follows: Raw materials Work in process Finished goods $ 60,500 $ 20,000 $ 57,600 The company applies overhead cost to jobs using direct labor-hours. For this year, the company's predetermined overhead rate of $11.25 per direct labor-hour was based on a cost formula that estimated $450,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded this year a. Raw materials were purchased on account, $622,000. b. Raw materials used in production, $591,800. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $400,000; indirect labor, $150,000; selling and administrative salaries, $280,000. d. Incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing), $400,000. e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $300,000. 1. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year g. Jobs costing $1,360,750 to manufacture according to their job cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3,330,000. The jobs cost $1,370,750 to manufacture according to their job cost sheets 13. Assuming the company closes its underapplied or overapplied overhead to Cost of Goods Sold, what is the adjusted cost of goods sold for this year? Adusted cost of goods sold 14 Part 14 of 15 0.3 points wy as to be a v Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials Work in process Finished goods $ 60,500 $ 20,800 $ 57,600 The company applies overhead cost to jobs using direct labor-hours. For this year, the company's predetermined overhead rate of $11.25 per direct labor-hour was based on a cost formula that estimated $450,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded this year a. b. Print References Raw materials were purchased on account, $622,000. Raw materials used in production, $591,800. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $400,000; Indirect labor, $150,000; selling and administrative salaries, $280,000 d. Incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing). $400,000 e. f. Incurred various manufacturing overhead costs (eg, depreciation, insurance, and utilities), $300,000. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year g. Jobs costing $1,360,750 to manufacture according to their job cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3.330,000. The jobs cost $1,370,750 to manufacture according to their job cost sheets. 14. What is the gross margin for this year? Check my work 13 Part 13 of 15 0.3 points eBook Print References Ant me a man -- way by an&m/ as follows: Raw materials Work in process Finished goods $ 60,500 $ 20,000 $ 57,600 The company applies overhead cost to jobs using direct labor-hours. For this year, the company's predetermined overhead rate of $11.25 per direct labor-hour was based on a cost formula that estimated $450,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded this year a. Raw materials were purchased on account, $622,000. b. Raw materials used in production, $591,800. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $400,000; indirect labor, $150,000; selling and administrative salaries, $280,000. d. Incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing), $400,000. e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $300,000. 1. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year g. Jobs costing $1,360,750 to manufacture according to their job cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3,330,000. The jobs cost $1,370,750 to manufacture according to their job cost sheets 13. Assuming the company closes its underapplied or overapplied overhead to Cost of Goods Sold, what is the adjusted cost of goods sold for this year? Adusted cost of goods sold 14 Part 14 of 15 0.3 points wy as to be a v Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials Work in process Finished goods $ 60,500 $ 20,800 $ 57,600 The company applies overhead cost to jobs using direct labor-hours. For this year, the company's predetermined overhead rate of $11.25 per direct labor-hour was based on a cost formula that estimated $450,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded this year a. b. Print References Raw materials were purchased on account, $622,000. Raw materials used in production, $591,800. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $400,000; Indirect labor, $150,000; selling and administrative salaries, $280,000 d. Incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing). $400,000 e. f. Incurred various manufacturing overhead costs (eg, depreciation, insurance, and utilities), $300,000. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year g. Jobs costing $1,360,750 to manufacture according to their job cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3.330,000. The jobs cost $1,370,750 to manufacture according to their job cost sheets. 14. What is the gross margin for this year? Check my work