Alberta Corporation uses a job costing system. The following data refers to operations for the month just
Question:
Alberta Corporation uses a job costing system. The following data refers to operations for the month just ended.
(1) Direct materials requested for production use, $170,000
(2) Indirect materials requisitioned for production use, $11,000
(3) Direct labor wages incurred, $105,000
(4) Indirect labor wages incurred, $103,000
(5) Depreciation recorded on factory equipment, $38,000
(6) Additional manufacturing overhead costs incurred, $63,000
(7) General manufacturing costs applied to jobs, $200,000
(8) Cost of work completed and transferred from Work in Process to Finished Goods, $450,000
Required:
to. Where applicable, record the above transactions in the Work in Process and Factory Overhead T-accounts below.
Work in progress | ||||
bal. | $35,000 | |||
Manufacturing overhead | ||||
b. Determine the underapplied or overapplied overhead for the month ?
Managerial Accounting An Introduction to Concepts Methods and Uses
ISBN: 978-0324639766
10th Edition
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil