Donna Company submits the following data for May 2013 Direct labor costP80, 000 PurchasesP100, 000 Factory overheadApplied

Fantastic news! We've Found the answer you've been seeking!

Question:

Donna Company submits the following data for May 2013

Direct labor costP80, 000

PurchasesP100, 000

Factory overheadApplied at 150% of direct labor cost

InventoriesMay 1May 31

Finished goodsP45, 000P24, 000

Work in ProcessP25, 800P18, 000

MaterialsP22, 000P25, 000

How much is the adjusted COGS after closing the over or under applied overhead to the monthly cost of goods sold?

How much is the Company's Cost of goods sold?

How much is the direct materials used?

How much is the over or under applied overhead if the actual overhead is 100,000?Just put the amount (do not write if over or under)

Related Book For answer-question

Accounting

ISBN: 978-0324401844

22nd Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

See More Books

Posted Date: May 10, 2024 05:51 AM

See More Questions

Donna Company submits the following data for May 2013 Direct labor costP80, 000 PurchasesP100, 000 Factory overheadApplied at 150% of direct labor cost Inventories May 1 May 31 Finished goodsP45,...
Last month, Babe Company placed P60,000 of materials into production. The printing department used 8,000 labor hours at P5.60 per hour and the binding department used 4,600 hours at P6.00 per hour....
I work at Air Canada as a customer service agent, and this is my only source of income each year. I get a refund every year, because my employer always takes enough tax off of my pay cheques. Do I...
Maria is opposed to the idea of same-sex marriage. In a recent conversation in the school cafeteria, Maria argues, "If homosexuals are allowed to marry, then why not allow polygamy or other kinds of...
It is known that some brands of peanut butter contain impurities within an acceptable level. A test conducted on 12 randomly selected jars of a certain brand of peanut butter resulted in the...
Why is an auditor's independence so essential? How can judgment traps affect auditors' independence?
What power does a shareholder with a blocking minority have?
A second version of the Markowitz portfolio model maximizes expected return subject to a constraint that the variance of the portfolio must be less than or equal to some specified amount. Consider...
On the first day of the fiscal year, a company issues $45,000, 8%, six-year installment notes that have annual payments of $9,734. T first note payment consists of $3,600 of interest and $6,134 of...
Givoly Incorporated uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for...
Differentiate the contexts of the TEMP versus the SIVP.
What is a TEWG?
Why do you need test logs?
What is a TEMP?
Who owns and prepares the SIVP?
Post a response of at least 20 to 50 words to the following questions listed below. Make sure you support your response with evidence from the text (or other credible sources). After your initial...
For the data in Exercise 17-19, use the FIFO method to summarize total costs to account for, and assign these costs to units completed and transferred out, and to units in ending work in process....
What are the three major activities of a manager?
The President of the ICAEW has proposed that regulators from developed and developing countries start talking to agree a set of principles for universal application that could underpin the regulation...
Describe the four steps in the planning and control cycle.

Donna Company submits the following data for May 2013 Direct labor costP80, 000 PurchasesP100, 000 Factory overheadApplied

Question:

Expert Answer:

Accounting

Students also viewed these accounting questions