Question: i need a-e answered SHOW WORK Problem 1. MD Manufacturing has the following beginning and ending account balances: Beginning Balance Ending Balance Raw Materials $30,000

SHOW WORK Problem 1. MD Manufacturing has the following beginning and ending account balances: Beginning Balance Ending Balance Raw Materials $30,000 $32,000 Work-in-Process $62,000 $72,000 Finished Goods Inventory $50,000 $46,000 MD uses predetermined overhead rates based on estimates (normal costing). MD allocates overhead based on machine hours. At the beginning of the year, MD estimated overhead for the year to be $420,000 and machine hours to be 3,000 hours. Actual machine hours during the year was 3,200 and actual overhead incurred was $425,000. Purchases of raw materials for the year were $275,000 and actual direct labor hours were 4,000. Direct labor costs $50 per hour. Where needed you can use T Accounts or Schedules A. Compute the amount of Raw Materials used in Production (Note: there is no indirect materials used) B. Compute the company's predetermined overhead rate and the amount of overhead applied. c Compute the Cost of Goods Manufactured (prior to any over-or under-allocated overhead adjustment)? D. Compute the Costs of Goods Sold (prior to any over-or under-allocated overhead adjustment). You can use T-accounts or Prepare a Schedule of Cost of Goods Sold. Compute the amount of underapplied or overapplied manufacturing overhead cost for the year. State whether it is under or overapplied
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