Question
In: Accounting
Ecola Company uses a job order costing system. Manufacturing overhead is applied on the basis of...
Ecola Company uses a job order costing system. Manufacturing overhead is applied on the basis of direct labor cost. Total manufacturing overhead was estimated to be $142,560 for the year; direct labor was estimated to total $162,000.
| (1/1) | (12/31) | |||||
| Raw Materials Inventory | $ | 13,800 | $ | 10,800 | ||
| Work in Process Inventory | $ | 29,800 | $ | 22,800 | ||
| Finished Goods Inventory | $ | 41,800 | $ | 32,800 | ||
The following transactions have occurred during the year.
| Raw materials purchases | $ | 138,000 |
| Direct materials used | $ | 75,600 |
| Direct labor | $ | 143,000 |
| Indirect materials used | $ | 16,800 |
| Indirect labor | $ | 19,800 |
| Factory equipment depreciation | $ | 28,800 |
| Factory rent | $ | 15,800 |
| Factory utilities | $ | 12,300 |
| Other factory costs | $ | 9,300 |
(a) Calculate the predetermined overhead rate.
(b) Calculate cost of goods manufactured.
(c) Calculate the over- or underapplied overhead.
(Input the amount as positive value.)
(d) Calculate adjusted cost of goods
sold.
Solutions
ekkarill92 answered 3 weeks agoRelated Solutions
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Predetermined overhead rate
...............................
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Case 3
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$9,500
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$94,400
$34,100
Beginning...
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