View Full Version : Overhead rate of .80
tlo1979
Feb 1, 2013, 02:18 PM
During the month of August, Ross MotorCo applied overhead to jobs using an overhead rate of $0.80 per dollar of direct labor. Direct labor in August was $138,000. Estimated overhead in August was $112,800. Actual overhead was composed of the following items:
Indirect materials $ 16,400
Indirect labor 24,900
Utilities 24,500
Depreciation 38,700
Repair expense 13,500
Total $118,000
How much will be recorded as a debit to Work in Process for overhead during the year for Ross MotorCo?
tlo1979
Feb 1, 2013, 02:19 PM
If the balance in the Finished Goods Inventory account is increased by $34,000 during the period and the cost of goods manufactured was $321,000, how much is cost of goods sold?
Answer a. $287,000
b. $321,000
c. $355,000
d. Not enough information is provided
.
tlo1979
Feb 1, 2013, 02:20 PM
Title Audio manufactures industrial sound systems and employs a job-order costing system. During June, Title Audio’s transactions and accounts included the following:
Raw materials purchased $126,000
Direct labor cost incurred 34,000
Total manufacturing overhead applied 42,100
Raw materials inventory, beginning 12,500
Raw materials inventory, ending 11,600
Finished goods inventory, beginning 10,400
Work in process inventory, beginning 13,000
Work in process inventory, ending 14,100
Total manufacturing overhead incurred 44,300
How much is the cost of direct materials issued to production during June?
a. $126,900
b.$126,000
c. $125,100
d. None of these answer choices are correct
.
tlo1979
Feb 1, 2013, 02:23 PM
If the balance in the Finished Goods Inventory account is increased by $34,000 during the period and the cost of goods manufactured was $321,000, how much is cost of goods sold?
Answer a. $287,000
b. $321,000
c. $355,000
d. Not enough information is provided
Curlyben
Feb 1, 2013, 02:30 PM
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