Question: I need help as soon as possible, im stuck on these questions Jacked Up Jerseys Inc. prints customized jerseys for all sports. The company allows
I need help as soon as possible, im stuck on these questions



Jacked Up Jerseys Inc. prints customized jerseys for all sports. The company allows you to choose the jersey of your favorite player and customize the names on the back of the jersey. The firm currently uses machine hours to assign overhead to their products. Find the information regarding the firm's beginning and ending balances for the period below: Beginning Balances Ending Balances Raw Materials $134,603 $??? Work In Process $160,359 $170,010 Finished Goods $75,082 $1 15, 162 Additionally, the firm had the following information: Direct Materials Purchased $171,785 Prime Cost $404, 146 Direct Labor Hours Used 21,939 Hours Rate per Direct Labor Hour $12.04 Estimated OH Cost $902,843 Actual OH Cost $977,397 Estimated Machine Hours 11,962 Machine Hours Actual Machine Hours 9,458 Machine Hours 1. Calculate the materials used in production during the period. O A. $306,388 O B. $171,785 O C. $140,000.44 O D. $37,182 2. Calculate the ending balance in the Raw Materials account. O A. $446,388.44 O B. $166,387.56 O C. $-97,758 O D. $102,818.44 3. Calculate the firm's pre-determined overhead rate (PDOH). O A. $103.34/mach. hr. O B. $75.48/mach. hr. O C. $81.71/mach. hr. O D. $95.46/mach. hr. 4. Calculate the total applied overhead for the firm during the period.This Question: 14 pts 4 2 of 4 (1 complete) This Test: 60 pts p culate the total applied overhead for the firm during the period. O A. $977,415.02 OB. $713,889.84 O C. $977,389.72 OD. $1,141,892.52 5. Calculate the Cost of Goods Manufactured (COGM) during the period. O A. $1,371,884.72 O B. $1,371,910.02 O C. $1,108,384.84 O D. $1,536,387.52 6. Calculate the cost of Goods Available for Sale (GAFS) during the period. O A. $1,611,469.52 O B. $1,446,992.02 O C. $1,183,466.84 O D. $1,446,966.72 7. Calculate the Cost of Goods Sold (COGS) during the period. O A. $1,068,304.84 O B. $1,496,307.52 O c. $1,331,804.72 OD. $1,331,830.02 8. Calculate the ABSOLUTE VALUE of the Overhead Variance during the period. O A. $188,953.16 O B. $263,507.16 O C. $164,495.52 OD. $18.02 9. Classify the Overhead Variance identified in #8 above as Over/Underapplied.9. Classify the Overhead Variance identified in #8 above as Over/Underapplied. Overapplied Underapplied 10. Assume the Overhead Variance is deemed material. What is the journal entry to dispose of the variance: O A. Debit: MOH Credit: WIP, FG, & COGS O B. Debit: MOH Credit: COGS O C. Debit: WIP, FG, & COGS Credit: MOH O D. Debit: COGS Credit: MOH 11. What percentage of the Overhead Variance will be closed out to the WIP account? O A. None OB. 78.93% O C. 12.56% O D. 100% 12. What percentage of the Overhead Variance will be closed out to the FG account? O A. 78.93% OB. 100% O C. 8.51% O D. None 13. What percentage of the Overhead Variance will be closed out to the COGS account? O A. 100% O B. 78.93% O C. None O D. 12.56% 14. What causes an Overhead Variance to exist? O A. Estimates of the cost of OH during the period are incorrect. O B. Estimates of the level of the cost driver to be used during the period are incorrect. O C. Aor B
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