The following information was provided by Alley Manufacturing for the month of August 2010: Additional information: Direct
Question:
Additional information:
Direct materials purchased .................................................... $ 450,000
Direct labor costs incurred ..................................................... $ 150,000
Machine hours worked .......................................................... 33,000
Actual unit- related manufacturing overhead ........................ $ 370,000
Applied unit-related manufacturing overhead ....................... $ 11 per machine hour
Required
Calculate the following amounts:
A. Direct materials used in production.
B. Applied manufacturing overhead.
C. Cost of goods manufactured.
D. Over- or under applied manufacturing overhead.
Direct materials inventory Work-in-process inventory Finished goods inventory Beginning Balance $ 60,000 100,000 110,000 Ending Balance $ 80,000 110,000 140,000
Step by Step Answer:
a Direct materials inventory beginning 60000 purchases 450000 Direc...View the full answer
Introduction to Accounting An Integrated Approach
ISBN: 978-0078136603
6th edition
Authors: Penne Ainsworth, Dan Deines
Students also viewed these Managerial Accounting questions
-
No Rust car sales provides a one year labour and parts warranty with every car sold and at 1 July 2020, at the beginning of the financial year, had a provision of $8,000 to cover warranty claims. On...
-
The following information was provided by the records of Collegetown Apartments (a corporation) at the end of the annual fiscal period, December 31, 2010: Rent a. Rent revenue collected in cash...
-
The following information was provided by the treasurer of Surety, Inc., for the year 2012: a. Cash sales for the year were $50,000; sales on account totaled $60,000. b. Cost of goods sold was 50% of...
-
I have this data frame with the years and values, can you make a model to predict the value of meats,fish,fruits and vegetables and grains? based on the current values of the table and historical...
-
A meteorologist preparing a talk about global warming compiled a list of weekly low temperatures (in degrees Fahrenheit) he observed at his southern Florida home last year. The coldest temperature...
-
(Appendix) Which of the following is true concerning significantly large labor variances? a. They are prorated among Work in Process, Finished Goods, and Cost of Goods Sold. b. They are closed to...
-
As indicated in Fig. P9.97, the orientation of leaves on a tree is a function of the wind speed, with the tree becoming "more streamlined" as the wind increases. The resulting drag coefficient for...
-
At December 31, 2009, Braddock Company had a balance of $15,000 in the Allowance for Doubtful Accounts. During 2010, Braddock wrote off accounts totaling $13,000. One of those accounts ($1,800) was...
-
Construct the mathematical function that describes the movement of the piston. 1.Relevant calculations and construction of the algebraic model. Parameter adjustment If the distance d that the piston...
-
Jerry Stevenson is the manager of a medical clinic in Scottsdale, AZ. He wants to analyze patient data to identify high-risk patients for cardiovascular diseases. From medical literature, he learned...
-
Reemts Company manufactures bookcases. Unit- related manufacturing overhead is applied based on the number of direct labor hours worked. Estimated unit- related manufacturing overhead for the year is...
-
The following annual budgeted information is available for Speckner Company, which manufactures folding tables, chairs, and footstools: During the current month, the following cost drivers were used:...
-
In Problem by inspecting the graph of the function, find the absolute maximum and absolute minimum on the given interval. n(x) = x on [3, 4]
-
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units Sold at Retail March 1...
-
Ricky s Piano Rebuilding Company has been operating for one year. On January 1 , at the start of its second year, its income statement accounts had zero balances and its balance sheet account...
-
This problem refers to right triangle ABC with C = 90 Begin the problem by drawing a picture of the triangle with both the given and asked for information labeled appropriately. If B = 51.88 and b =...
-
Pronghorn Design Works generated $315,840 in operating income on sales revenue of $2,632,000. The company had $1,860,000 in assets on January 1 and $2,840,000 in assets on December 31. (a-b) (a)...
-
The following items are necessary for preparing the 2 0 2 4 year - end adjustments for Rogers Advertising Agency. Rogers s fiscal year - end is December 3 1 . On July 1 , 2 0 2 4 , Rogers received $...
-
Based on your experience in number 1, what will need to happen with bitcoin for it to gain mainstream consumer acceptance?
-
The unadjusted trial balance of Secretarial Services is as follows: SECRETARIAL SERVICES Unadjusted Trial Balance as at 31 December 2017 Account Debit Credit Cash at bank Office supplies Prepaid...
-
A pipeline is installed to transport a red mud slurry from an open tank in an alumina plant to a disposal pond. The line is 5 in. sch 80 commercial steel, 12,000 ft long, and is designed to transport...
-
Review the transactions listed in E3-3 for Underwood Corp. and classify each transaction as either an operating activity, investing activity, or financing activity, or if no cash is exchanged, as a...
-
On April 1, Vagabond Travel Agency Inc. was established. These transactions were completed during the month. 1. Stockholders invested $30,000 cash in the company in exchange for common stock. 2. Paid...
-
On April 1, Vagabond Travel Agency Inc. was established. These transactions were completed during the month. 1. Stockholders invested $30,000 cash in the company in exchange for common stock. 2. Paid...
-
Suppose you were interested in studying the quality of conditions within a prison. What indicators would you measure to give the clearest picture of the realities of prison life? Cite the below...
-
On March 31, 2023, Panda Co. assessed its assets for impairment as part of its year-end procedures. It was found that equipment had a recoverable value of $15,000, a remaining useful life of three...
-
Petty's comparative balance sheets at December 31, 2020, and December 31, 2019, report the following (in millions). (Click the icon to view the comparative balance sheets.) Requirements Below are...
Study smarter with the SolutionInn App