Question
In: Accounting
Catlett Company manufactures products to customer specifications. A job costing system is used to accumulate production...
Catlett Company manufactures products to customer specifications. A job costing system is used to accumulate production costs. Factory overhead cost was applied at 120% of direct labor cost. Selected data concerning operations of the company are presented below.
| Direct Materials Inventory, Beginning | $ | 88,000 | |
| Direct Materials Inventory, Ending | 75,000 | ||
| Direct Materials Purchases | 395,000 | ||
| Direct Labor | 300,000 | ||
| Finished Goods Inventory, Beginning | 137,000 | ||
| Finished Goods Inventory, Ending | 130,000 | ||
| Actual Factory Overhead | 322,000 | ||
| Work-in-Process Inventory, Beginning | 72,000 | ||
| Work-in-Process Inventory, Ending | 55,000 | ||
Required:
Prepare a statement of cost of goods manufactured and a statement of cost of goods sold for the year ended December 31, 20XX.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Randall Company manufactures products to customer specifications. A job costing system is used to accumulate production...
Randall Company manufactures products to customer
specifications. A job costing system is used to accumulate
production costs. Factory overhead cost was applied at 125% of
direct labor cost. Selected data concerning the past year's
operation of the company are presented below.
January 1
December 31
Direct materials
$
77,000
$
40,000
Work in process
66,000
42,000
Finished goods
115,000
100,000
Other information
Direct materials purchases
$
324,000
Cost of goods available for sale
950,000
Actual factory overhead costs
260,000
The...
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Dillon Products manufactures various machined parts to customer
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The company spent the entire month of January working on a large
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Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system...
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specifications. The company uses a job-order costing system and
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beginning of the year, the company used a cost formula to estimate
that it would incur $4,290,000 in manufacturing overhead cost at an
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The company spent the entire month of January working on a large
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Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system...
Dillon Products manufactures various machined parts to customer
specifications. The company uses a job-order costing system and
applies overhead cost to jobs on the basis of machine-hours. At the
beginning of the year, the company used a cost formula to estimate
that it would incur $4,158,800 in manufacturing overhead cost at an
activity level of 562,000 machine-hours.
The company spent the entire month of January working on a large
order for 12,500 custom-made machined parts. The company had no
work...
Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system...
Dillon Products manufactures various machined parts to customer
specifications. The company uses a job-order costing system and
applies overhead cost to jobs on the basis of machine-hours. At the
beginning of the year, the company used a cost formula to estimate
that it would incur $4,215,000 in manufacturing overhead cost at an
activity level of 562,000 machine-hours.
The company spent the entire month of January working on a large
order for 12,900 custom-made machined parts. The company had no
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Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system...
Dillon Products manufactures various machined parts to customer
specifications. The company uses a job-order costing system and
applies overhead cost to jobs on the basis of machine-hours. At the
beginning of the year, the company used a cost formula to estimate
that it would incur $4,232,800 in manufacturing overhead cost at an
activity level of 572,000 machine-hours. The company spent the
entire month of January working on a large order for 12,300
custom-made machined parts. The company had no work...
Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system...
Dillon Products manufactures various machined parts to customer
specifications. The company uses a job-order costing system and
applies overhead cost to jobs on the basis of machine-hours. At the
beginning of the year, the company used a cost formula to estimate
that it would incur $4,320,000 in manufacturing overhead cost at an
activity level of 576,000 machine-hours.
The company spent the entire month of January working on a large
order for 12,900 custom-made machined parts. The company had no
work...
Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system...
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specifications. The company uses a job-order costing system and
applies overhead cost to jobs on the basis of machine-hours. At the
beginning of the year, the company used a cost formula to estimate
that it would incur $4,354,800 in manufacturing overhead cost at an
activity level of 573,000 machine-hours.
The company spent the entire month of January working on a large
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Dillon Products manufactures various machined parts to customer
specifications. The company uses a job-order costing system and
applies overhead cost to jobs on the basis of machine-hours. At the
beginning of the year, the company used a cost formula to estimate
that it would incur $4,215,000 in manufacturing overhead cost at an
activity level of 562,000 machine-hours.
The company spent the entire month of January working on a large
order for 12,900 custom-made machined parts. The company had no
work...
Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system...
Dillon Products manufactures various machined parts to customer
specifications. The company uses a job-order costing system and
applies overhead costs to jobs on the basis of machine-hours. At
the beginning of the year, the company used a cost formula to
estimate that it would incur $4,327,500 in manufacturing overhead
cost at an activity level of 577,000 machine-hours.
The company spent the entire
month of January working on a large order for 9,000 custom made
machined parts. The company had no...
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