Partially completed T-accounts and additional information for Cardinals, Inc., for the month of November appear as...
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Partially completed T-accounts and additional information for Cardinals, Inc., for the month of November appear as follows. Finished Goods Inventory 83,000 183,000 Applied Manufacturing Overhead BB (11/1) Materials Inventory 33,000 123,000 92,000 Cost of Goods Sold Additional information for November follows: Work-In-Process Inventory 63,000 66,000 BB (11/1) Labor Manufacturing Overhead Control 81,000 . • Labor wage rate was $30 per hour. Manufacturing overhead is applied at $31 per direct labor-hour. BB (11/1) • During the month, sales revenue was $285,000, and selling and administrative costs were $51,000. • This company has no indirect materials or supplies. 123,000 Required: a. What cost amount of direct materials was issued to production during November? b. How much manufacturing overhead was applied to products during November? c. What was the cost of products completed during November? d. What was the balance of the Work-in-Process Inventory account at the end of November? e. What was the over- or underapplied manufacturing overhead for November? f. What was the operating profit (loss) for November? Any over- or underapplied overhead is written off to Cost of Goods Sold. Partially completed T-accounts and additional information for Cardinals, Inc., for the month of November appear as follows. Finished Goods Inventory 83,000 183,000 Applied Manufacturing Overhead BB (11/1) Materials Inventory 33,000 123,000 92,000 Cost of Goods Sold Additional information for November follows: Work-In-Process Inventory 63,000 66,000 BB (11/1) Labor Manufacturing Overhead Control 81,000 . • Labor wage rate was $30 per hour. Manufacturing overhead is applied at $31 per direct labor-hour. BB (11/1) • During the month, sales revenue was $285,000, and selling and administrative costs were $51,000. • This company has no indirect materials or supplies. 123,000 Required: a. What cost amount of direct materials was issued to production during November? b. How much manufacturing overhead was applied to products during November? c. What was the cost of products completed during November? d. What was the balance of the Work-in-Process Inventory account at the end of November? e. What was the over- or underapplied manufacturing overhead for November? f. What was the operating profit (loss) for November? Any over- or underapplied overhead is written off to Cost of Goods Sold.
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Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
Posted Date:
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