ces Cadbury Company uses a job order cost system. Manufacturing overhead is applied on the basis...
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ces Cadbury Company uses a job order cost system. Manufacturing overhead is applied on the basis of direct labor cost. Total manufacturing overhead was estimated to be $120,080 for the year; direct labor was estimated to total $150,100. Additional information for the year is as follows: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Raw materials purchases Direct materials used Beginning Inventory (1/1) $ 13,100 19,800 42,300 Ending Inventory (12/31) $ 8,600 22,900 30,300 $ 101,000 93,800 Direct labor 125,800 Indirect materials used 11,700 Indirect labor 16,300 Factory equipment depreciation 26,100 Factory rent 20,600 Factory utilities 8,300 Other factory costs 7,600 Required: a. Calculate the predetermined overhead rate. b. Calculate cost of goods manufactured. c. Calculate the over- or underapplied overhead. d. Calculate adjusted cost of goods sold. ces Cadbury Company uses a job order cost system. Manufacturing overhead is applied on the basis of direct labor cost. Total manufacturing overhead was estimated to be $120,080 for the year; direct labor was estimated to total $150,100. Additional information for the year is as follows: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Raw materials purchases Direct materials used Beginning Inventory (1/1) $ 13,100 19,800 42,300 Ending Inventory (12/31) $ 8,600 22,900 30,300 $ 101,000 93,800 Direct labor 125,800 Indirect materials used 11,700 Indirect labor 16,300 Factory equipment depreciation 26,100 Factory rent 20,600 Factory utilities 8,300 Other factory costs 7,600 Required: a. Calculate the predetermined overhead rate. b. Calculate cost of goods manufactured. c. Calculate the over- or underapplied overhead. d. Calculate adjusted cost of goods sold.
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Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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