Riverdale manufactured ladies apparel. Charges to work in process account show: Direct materials used ₱341,000 Direct labor costs 324,500 Factory overhead 259,600 At the end of the period, two orders are still in process, upon which direct materials of ₱70,000 have been expended. Factory overhead is applied at a predetermined rate of direct labor costs. Goods manufactured for the period amounted to ₱825,400. The factory overhead component of the goods manufactured is?

Riverdale manufactured ladies apparel. Charges to work in process account show: Direct materials used ₱341,000 Direct labor costs 324,500 Factory overhead 259,600 At the end of the period, two orders are still in process, upon which direct materials of ₱70,000 have been expended. Factory overhead is applied at a predetermined rate of direct labor costs. Goods manufactured for the period amounted to ₱825,400. The factory overhead component of the goods manufactured is?

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 4E: The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the...

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Comacho Chemical Co. recorded costs for the month of 18,900 for materials, 44,100 for labor, and 26,250 for factory overhead. There was no beginning work in process, 8,000 units were finished, and 3,000 units were in process at the end of the period, two-thirds completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost. (Round unit costs to three decimal places.)
Happy Clicks Inc. uses a predetermined overhead allocation rate of $4.75 per machine hour. Actual overhead costs incurred during the year are as follows: Indirect materials $5,200 Indirect labor $3,750 Plant depreciation $4,800 Plant utilities and insurance $9,530 Other plant overhead costs $12,700 Total machine hours used during the year 7,520 hours What is the amount of manufacturing overhead cost allocated to Work-in-Process Inventory during the year? Is the manufacturing overhead account under or over-allocated and if so by how much? Journalize the under or over allocation.
Octillery Manufacturing Inc uses a job-order costing system. During the month materials purchased on credit amounted to ₱198,000; the raw materials issued to the production amounted to ₱195,000 of which ₱50,000 were indirect. Factory payroll incurred amounted to ₱370,000, paid in cash, of which ₱45,000 was indirect labor. The firm uses a predetermined overhead application rate of 125% of direct labor cost. Total overhead costs incurred during the month amounted to ₱392,800. The amount of OVER (UNDER) APPLIED OVERHEAD amount to ₱_____________. ** INDICATE in the solution sheet whether MOH is OVERAPPLIED or UNDERAPPLIED. CAUTION: If the answer is UNDERAPPLIED encode the minus sign before the numerical answer. Do not place any spaces.
Catherine Company uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. Last year, the company worked 57,000 actual direct labor hours and incurred ₱345,000 of actual manufacturing overhead cost. The Company had estimated that it would work 55,000 direct labor hours during the year and incur ₱330,000 of manufacturing overhead cost. The company's manufacturing overhead cost for the year was: A. Overapplied by ₱3,000 B. Overapplied by ₱15,000 C. Underapplied by ₱3,000 D. Underapplied by ₱15,000
The Work in Process inventory account of Ninetales Publishing Inc shows a total manufacturing cost of ₱20,000 at the end of an accounting period. The job cost sheets of the two uncompleted jobs show charges of ₱6,000 and ₱5,000 for materials, and charges of ₱2,000 and ₱4,000 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of _______%.
Manufacturing overhead was estimated to be $201,900 for the year along with an estimated 20.190 direct labor hours. Actual manufacturing overhead was $220.700, and actual direct labor hours were 21,190. To dispose of the balance in the Manufacturing Overhead account, which of the following would be correct? Cost of Goods Sold would be credited for $8,800. Cost of Goods Sold would be credited for $18,800. Cost of Goods Sold would be debited for $8.800. Cost of Goods Sold would be debited for $18,800
Albuquerque Manufacturing Company uses a predetermined overheadrate based on direct labor hours to apply manufacturing overhead to jobs.Last year, the company worked 57,000 actual direct labor hours andincurred ₱345,000 of actual manufacturing overhead cost. The Companyhad estimated that it would work 55,000 direct labor hours during theyear and incur ₱330,000 of manufacturing overhead cost. The company'smanufacturing overhead cost for the year was:
Hello, Buck and Company incurred the following costs during August: Raw materials purchased $41,400 Direct labor ($13.6 per hour) 60,384 Manufacturing overhead (actual) 90,420 Selling expenses 31,890 Administrative expenses 14,070 Interest expense 6,112 Manufacturing overhead is applied on the basis of $20 per direct labor hour. Assume that overapplied or underapplied overhead is transferred to the cost of goods sold only at the end of the year. During the month, 4120 units of product were manufactured and 4,400 units of product were sold. On August 1 and August 31, Buck and Company carried the following inventory balances. August 1 August 31 Raw materials $19,000 $17,800 Work in progress 53,000 56,000 Finished goods 40,100 27,267 Question a-1: Prepare a statement of costs of goods manufactured for the month of August. (Amounts to be deducted should be indicated by a minus sign). Buck and Company Statement of Goods manufactured for the month of…
How much is the cost of goods manufactured? * JR Company uses the normal cost system. The company applies overhead using a predetermined overhead rate using machine hours. At the beginning of the year, the company estimated that it would work 44,000 machine hours and incur P176,000 in factory overhead costs. Following are transactions for the month of February. [a] Purchased raw materials from CZ company, P555,000. Terms 2/10,n/60. [b] Materials were requisitioned for production, P431,000 direct and 13,000 indirect. [c) Returned materials to CZ company, P5,000 (gross) on the 3rd day after purchase. [d] Paid payroll for the week: Earnings P220,000 Tax SS PHIC 13,480 5,000 24,000 2,000 5,000 Direct Indirect 40,000 Selling Admin [e] Depreciation of factory machine is P119,000 [f] Factory utilities costs incurred, P24,000. (g] Overhead was applied to production using 47,000 1,160 2,500 800 50,000 1,230 70,000 13,000 6,850 2,430 hours. [h] P700,000 worth of goods were completed. (i] Paid…
Swirlix Semicon Manufacturing Inc uses machine-hours (MHs) for its overhead rate. The production data for the month of March is as follows: Estimated MOH costs ₱ 555,000 Estimated allocation base 15,000 MHs Predetermined overhead rate ? Actual amount of allocation base 13,820 MHs Actual manufacturing overhead ₱ 520,150 Applied manufacturing overhead ? Over or (under) applied overhead ? Swirlix's Over (Under) Applied Overhead is ₱______________. ** INDICATE in the solution sheet whether MOH is OVERAPPLIED or UNDERAPPLIED. CAUTION: If the answer is UNDERAPPLIED encode the minus sign before the numerical answer. Do not place any spaces.
Pink Company incurred the following costs during the month: direct labor, P120,000; factory overhead, P108,000, and direct materials purchases, P160,000 inventories show the following costs: Beginning Ending Finished goods P27,000 P30,000 Work in process P61,500 P57,500 Direct materials P37,500 P 43,500 How much is the cost of goods manufactured?
Onix Manufacturing Company Inc uses direct labor hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor hours were 16,100 hours and the total estimated manufacturing overhead was ₱362,250. At the end of the year, actual direct labor hours for the year were 17,050 hours and the actual manufacturing overhead for the year was ₱395,000. The amount of OVER (UNDER) APPLIED OVERHEAD amount to ₱_____________. ** INDICATE in the solution sheet whether MOH is OVERAPPLIED or UNDERAPPLIED. CAUTION: If the answer is UNDERAPPLIED encode the minus sign before the numerical answer. Do not place any spaces.