Molin Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or...
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Molin Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: Estimated total manufacturing overhead at the beginning of the year Estimated direct labor-hours at the beginning of the year Results of operations: Actual direct labor-hours Manufacturing overhead: Indirect labor cost Other manufacturing overhead costs incurred Cost of goods sold (unadjusted) Required: a. What is the total amount of manufacturing overhead applied to production during the year? b. Is manufacturing overhead overapplied or underapplied for the year? By how much? c. What is the adjusted cost of goods sold for the year? $ 640,750 35,800 direct labor-hours 40,800 direct labor-hours $ 174,000 $ 635,000 $ 1,650,000 Complete this question by entering your answers in the table below. Required A Required B Required C What is the total amount of manufacturing overhead applied to production during the year? Note: Round your intermediate calculations to 2 decimal places. Total manufacturing overhead applied to production Required A Required B Molin Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: Estimated total manufacturing overhead at the beginning of the year Estimated direct labor-hours at the beginning of the year Results of operations: Actual direct labor-hours Manufacturing overhead: Indirect labor cost Other manufacturing overhead costs incurred Cost of goods sold (unadjusted) Required: a. What is the total amount of manufacturing overhead applied to production during the year? b. Is manufacturing overhead overapplied or underapplied for the year? By how much? c. What is the adjusted cost of goods sold for the year? $ 640,750 35,800 direct labor-hours 40,800 direct labor-hours $ 174,000 $ 635,000 $ 1,650,000 Complete this question by entering your answers in the table below. Required A Required B Required C What is the total amount of manufacturing overhead applied to production during the year? Note: Round your intermediate calculations to 2 decimal places. Total manufacturing overhead applied to production Required A Required B
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Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
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