Overhead is applied to production at the rate of $25 per direct labor hour. The beginning balances
Fantastic news! We've Found the answer you've been seeking!
Question:
Overhead is applied to production at the rate of $25 per direct labor hour. The beginning balances of Raw Material Inventory and Work in Process Inventory were $4,150 and $11,150, respectively. The ending balance in Work in Process Inventory was $2,350.
a. Prepare journal entries for the above transactions.
b. Determine the balances in Raw Material Inventory and Work in Process Inventory at the end of the month.
c. Determine the cost of the goods completed during June. If 5,000 similar units were completed, what was the cost per unit?
d. What is the amount of underapplied or overapplied overhead at the end of June
Related Book For
Cost Management Measuring Monitoring and Motivating Performance
ISBN: 978-0470769423
2nd Canadian edition
Authors: Leslie G. Eldenburg, Susan Wolcott, Liang-Hsuan Chen, Gail Cook
Posted Date: