Hasson Company uses normal costing to cost each job. Its job-costing system has two direct-cost categories...
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Hasson Company uses normal costing to cost each job. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor costs). Its budgeted manufacturing overhead cost rate is $1.4 per dollar of direct manufacturing labors costs. tion The following data pertain to 20X5: Direct materials and supplies purchased on credit $768,000 Direct materials used 681,600 Indirect materials issued to various production departments 96,000 Direct manufacturing labor 1,248,000 Indirect manufacturing labor incurred by various production departments 864,000 Manufacturing overhead (various accounts) 912,000 Manufacturing overhead allocated Cost of goods manufactured 2,966,400 Revenues 7,680,000 Cost of goods sold (before adjustment for under- or overallocated manufacturing overhead) 2,894,400 Inventories, December 31, 20X4: Materials Control 96,000 Work-in-Process Control 57,600 Finished Goods Control 480,000 What is the 20X5 ending balance in Work-in-Process before adjustment for under- or overallocated manufacturing overhead? $ (do not include dollar sign and comma in your answer, e.g., 15000) Hasson Company uses normal costing to cost each job. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor costs). Its budgeted manufacturing overhead cost rate is $1.4 per dollar of direct manufacturing labors costs. tion The following data pertain to 20X5: Direct materials and supplies purchased on credit $768,000 Direct materials used 681,600 Indirect materials issued to various production departments 96,000 Direct manufacturing labor 1,248,000 Indirect manufacturing labor incurred by various production departments 864,000 Manufacturing overhead (various accounts) 912,000 Manufacturing overhead allocated Cost of goods manufactured 2,966,400 Revenues 7,680,000 Cost of goods sold (before adjustment for under- or overallocated manufacturing overhead) 2,894,400 Inventories, December 31, 20X4: Materials Control 96,000 Work-in-Process Control 57,600 Finished Goods Control 480,000 What is the 20X5 ending balance in Work-in-Process before adjustment for under- or overallocated manufacturing overhead? $ (do not include dollar sign and comma in your answer, e.g., 15000)
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Calculate ending work in process Beginning WIP 57600 Material ... View the full answer
Related Book For
Horngrens Cost Accounting A Managerial Emphasis
ISBN: 978-0134475585
16th edition
Authors: Srikant M. Datar, Madhav V. Rajan
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