Use the following gathered information to answer the questions below. Beginning Ending Raw Materials 250,000 300,000...

 

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Use the following gathered information to answer the questions below. Beginning Ending Raw Materials 250,000 300,000 300,000 227,000 WIP Finished Goods 200,000 7???? Current Direct Labor 14,000 Indirect Labor 10,000 Actual Overhead 35,000 Applied Overhead ????? Direct Materials 50,000 25,000 500,000 Indirect Materials Sales Revenue Estimated total Overhead Costs 40,000 Actual Direct Labor Hours 95,000 Hours Estimated Activity Level of Cost Driver (hours) 100,000 Gross Profit Percentage 40% Salaries of Sales Staff 20,000 Depreciation on Office Computer 30,000 What was: Raw Materials Purchases? Applied Manufacturing Overhead? Cost of Goods Manufactured? Total S,G,&A Expenses? Net Income BEFORE adjustment of over/under applied overhead? COGS BEFORE adjustment of over/under applied overhead COGS AFTER adjustment of over/under applied overhead Did they over or under apply overhead? Use the following gathered information to answer the questions below. Beginning Ending Raw Materials 250,000 300,000 300,000 227,000 WIP Finished Goods 200,000 7???? Current Direct Labor 14,000 Indirect Labor 10,000 Actual Overhead 35,000 Applied Overhead ????? Direct Materials 50,000 25,000 500,000 Indirect Materials Sales Revenue Estimated total Overhead Costs 40,000 Actual Direct Labor Hours 95,000 Hours Estimated Activity Level of Cost Driver (hours) 100,000 Gross Profit Percentage 40% Salaries of Sales Staff 20,000 Depreciation on Office Computer 30,000 What was: Raw Materials Purchases? Applied Manufacturing Overhead? Cost of Goods Manufactured? Total S,G,&A Expenses? Net Income BEFORE adjustment of over/under applied overhead? COGS BEFORE adjustment of over/under applied overhead COGS AFTER adjustment of over/under applied overhead Did they over or under apply overhead?

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Schedule of cost of goods manufactured and cost of goods sold Particulars Amount Amount Beginning wo... View the full answer