Solution-Calculate the cost of goods manufactured for

Calculate the cost of goods manufactured for october

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Reference no: EM132500687

East Coast Colorworks produces modular office space units. The company uses a job order costing system to accumulate product costs. Because much of the production process is automated, Cast Coast has selected machine hours as its overhead application rate.

In October, East Coast worked on four jobs. lob 105 and lob 106 were started in September and completed and delivered to ClIciornerS in October. Job 107 and Job 108 were started in October and Job 107 was finished but has yet to be sold.

The relevant data for September and October are:

Costs added September:	Job 105	Job 106 Job 107		Job 108
Costs added September:				Job 108
Direct materials	$25,000	5 10.000 j
Direct labor	536,000 .	$ 4,000I
Mfg. Overhead	$40,000	$ SOO
Machine Hours	1,600 MH I 20 MH

Costs added In
October:
Direct materials	0	S 9,000	$ 8,000	$ 4.000
Direct labor	$8.000	S 28.000	512.000	$ SOO
Machine I lours	120 MH	SOO Mii i 325 MH		45 MH

Required:

Question a) Calculate the predetermined overhead rate used by East Coast.

Question b) Calculate the total manufacturing cost for October.

Question c) Calculate the total cost for each of the five jobs as of October 31.

Question d) Calculate the cost of goods manufactured for October.

Question e) Calculate the balance in the Work in Progress Inventory account as of October 31.

Question f) Calculate the Cost of Goods Sold for October.

Question g) Calculate the balance in the finished goods Inventory account as of October 31.

Reference no: EM132500687

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Calculate the cost of goods manufactured for october

Reference no: EM132500687

Reference no: EM132500687

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