Solution-Create a schedule of cost of goods manufactured

Create a schedule of cost of goods manufactured for the year

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Reference no: EM132541139

Its predetermined overhead rate was base on a cost formula that estimated 127,400 of man. overhead for and est. 91,000 direct material dollars to be used in production. The company has provided the following data for the completed year.

Purchase of raw materials: $140,000

Direct Labor cost: 87000

Man. Overhead Costs:

Indirect Labor: 131000

Prop. Taxes 8300

Depreciation of equipment 18000

Maintenance 15000

Insurance 11700

Rent. Building 35000

Beg. End.

Raw Materials 30000 17000

Work in Process 44000 40000

Finished Goods 75000 55000

Question 1 Compute the predetermined overhead rate.

Question 2 Compute the amount of underapplied or overapplied for the year.

Question 3 Prepare a schedule of cost of goods manufactured for the year, Assume all raw materials are used in production as direct materials.

Question 4 Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer.

Question 5 Assume that the $40,000 ending balance in Work in Process includes $8700 of direct materials.

Reference no: EM132541139

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Create a schedule of cost of goods manufactured for the year

Reference no: EM132541139

Reference no: EM132541139

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