Calculate Cost of Goods Sold for the following two companies (6 points): Beginning Inventory: Merchandise Finished...

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Calculate Cost of Goods Sold for the following two companies (6 points): Beginning Inventory: Merchandise Finished Goods Cost of Goods Purchased. Cost of Goods Manufactured. Ending Inventory: Merchandise Finished Goods. 4. Estimated Factory Overhead. Factory Overhead Incurred Factory Overhead Applied Estimated Direct Labor Cost Direct Labor Cost Incurred CARVER LTD. $250,000 Revenues from sales. Direct Salaries............ 460,000 ********* 128,000 2. Erlander Company uses a job order cost accounting system. On November 1, $15,000 of direct materials and $3,500 of indirect materials were requisitioned for production. Prepare the general journal entry to record this requisition (6 points). Salaries allocated to Dept. 1 Salaries allocated to Dept. 2 PEMBROKE, INC. 3. lolaus Company provides the following data for the current year: MAMA $550,000 7,800 $11,400 688,000 ? 12,000 11,800 350,000 Required: a. Calculate the predetermined overhead allocation rate based on direct labor. b. Determine the amount of overhead applied to production. c. Prepare the journal entry to apply factory overhead to goods in process (6 points total). Eclectic Furniture Company allocates its indirect salaries of $12,500 on the basis of sales. Determine the indirect salaries allocated to Departments 1 and 2 using the following information (6 points). 1 Dept. 1 Dept.2 Combined $182,000 $78,000 $260,000 65,000 42,250 22,750 5. A company inadvertently produced 6,000 defective portable CD players. The CD players cost $20 each to be manufactured. A salvage company will purchase the defective units as they are for $16 each. The production manager reports that the defects can be corrected for $9 per unit, enabling the company to sell them at the regular price of $30.00. The repair operations would not affect other production operations. Prepare an analysis that shows which action should be taken (6) points). Calculate Cost of Goods Sold for the following two companies (6 points): Beginning Inventory: Merchandise Finished Goods Cost of Goods Purchased. Cost of Goods Manufactured. Ending Inventory: Merchandise Finished Goods. 4. Estimated Factory Overhead. Factory Overhead Incurred Factory Overhead Applied Estimated Direct Labor Cost Direct Labor Cost Incurred CARVER LTD. $250,000 Revenues from sales. Direct Salaries............ 460,000 ********* 128,000 2. Erlander Company uses a job order cost accounting system. On November 1, $15,000 of direct materials and $3,500 of indirect materials were requisitioned for production. Prepare the general journal entry to record this requisition (6 points). Salaries allocated to Dept. 1 Salaries allocated to Dept. 2 PEMBROKE, INC. 3. lolaus Company provides the following data for the current year: MAMA $550,000 7,800 $11,400 688,000 ? 12,000 11,800 350,000 Required: a. Calculate the predetermined overhead allocation rate based on direct labor. b. Determine the amount of overhead applied to production. c. Prepare the journal entry to apply factory overhead to goods in process (6 points total). Eclectic Furniture Company allocates its indirect salaries of $12,500 on the basis of sales. Determine the indirect salaries allocated to Departments 1 and 2 using the following information (6 points). 1 Dept. 1 Dept.2 Combined $182,000 $78,000 $260,000 65,000 42,250 22,750 5. A company inadvertently produced 6,000 defective portable CD players. The CD players cost $20 each to be manufactured. A salvage company will purchase the defective units as they are for $16 each. The production manager reports that the defects can be corrected for $9 per unit, enabling the company to sell them at the regular price of $30.00. The repair operations would not affect other production operations. Prepare an analysis that shows which action should be taken (6) points).

Answer rating: 100% (QA)

1 Cost of Goods Sold for Carver Ltd Beginning Inventory Merchandise 250000 Cost of Goods Purchased 260000 Cost of Goods Manufactured 688000 Total Good... View the full answer