The Pacific Manufacturing Company operates a job-ordercosting system and applies overhead cost to jobs on the basis ofdirect labor cost. Its predetermined overhead rate was based on acost formula that estimated $113,100 of manufacturing overhead foran estimated allocation base of $87,000 direct labor dollars. Thecompany has provided the following data:
Inventories Beginning Ending
Raw materials $ 27,000 $ 10,000
Work in process $ 49,000 $ 36,000
Finished goods $ 74,000 $ 55,000
The following actual costs were incurred during theyear:
Purchase of raw materials (all direct) $ 131,000
Direct labor cost $ 83,000
Actual manufacturing overhead costs:
Insurance, factory $ 8,700
Depreciation of equipment $ 18,000
Indirect labor $ 27,200
Property taxes $ 8,700
Maintenance $ 15,000
Rent, building $ 34,000
________________________________________
Compute the predetermined overhead rate for theyear.
Predetermined overhead rate %
Compute the amount of underapplied or overapplied overheadfor the year. (Input the amount as a positive value.)
overhead $
Prepare a schedule of cost of goods manufactured for theyear. Assume all raw materials are used in production as directmaterials. (Input all amounts as positive values.)
Pacific Manufacturing Company
Schedule of Cost of Goods Manufactured
Direct materials:
$
Total raw materials available
Raw materials used in production $
Total manufacturing cost
Cost of goods manufactured $
Compute the unadjusted cost of goods sold for the year. (Donot include any underapplied or overapplied overhead in your costof goods sold figure.
Unadjusted cost of goods sold $
Job 137 was started and completed during the year. What pricewould have been charged to the customer if the job required $3,600in materials and $4,000 in direct labor cost, and the companypriced its jobs at 50% above the job%u2019s cost according to theaccounting system?
Price to customer $
Direct labor made up $8,500 of the $36,000 ending Work inProcess inventory balance. Supply the information missingbelow:
Direct materials $
Direct labor 8,500
Manufacturing overhead
Work in process inventory $ 36,000
**how to compute price to customer?
The Pacific Manufacturing Company operates a job-ordercosting system and applies overhead cost to jobs on the basis ofdirect labor cost. Its predetermined overhead rate was based on acost formula that estimated $113,100 of manufacturing overhead foran estimated allocation base of $87,000 direct labor dollars. Thecompany has provided the following data:
Inventories Beginning Ending
Raw materials $ 27,000 $ 10,000
Work in process $ 49,000 $ 36,000
Finished goods $ 74,000 $ 55,000
The following actual costs were incurred during theyear:
Purchase of raw materials (all direct) $ 131,000
Direct labor cost $ 83,000
Actual manufacturing overhead costs:
Insurance, factory $ 8,700
Depreciation of equipment $ 18,000
Indirect labor $ 27,200
Property taxes $ 8,700
Maintenance $ 15,000
Rent, building $ 34,000
________________________________________
Compute the predetermined overhead rate for theyear.
Predetermined overhead rate %
Compute the amount of underapplied or overapplied overheadfor the year. (Input the amount as a positive value.)
overhead $
Prepare a schedule of cost of goods manufactured for theyear. Assume all raw materials are used in production as directmaterials. (Input all amounts as positive values.)
Pacific Manufacturing Company
Schedule of Cost of Goods Manufactured
Direct materials:
$
Total raw materials available
Raw materials used in production $
Total manufacturing cost
Cost of goods manufactured $
Compute the unadjusted cost of goods sold for the year. (Donot include any underapplied or overapplied overhead in your costof goods sold figure.
Unadjusted cost of goods sold $
Job 137 was started and completed during the year. What pricewould have been charged to the customer if the job required $3,600in materials and $4,000 in direct labor cost, and the companypriced its jobs at 50% above the job%u2019s cost according to theaccounting system?
Price to customer $
Direct labor made up $8,500 of the $36,000 ending Work inProcess inventory balance. Supply the information missingbelow:
Direct materials $
Direct labor 8,500
Manufacturing overhead
Work in process inventory $ 36,000
**how to compute price to customer?
