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Exercise 6-1
Allocation Applied OH
B. Job 1 42000 * 0.4 16,800.00
17000 * 5.5 93,500.00
110,300.00
C. Job 1 Job 2
Direct Materials 42,000.00 164,000.00
Direct Labor 32,000.00 26,000.00
OH Applied 110,300.00 115,100.00
Total Manufacturing Cost 184,300.00 305,100.00
Divide by: Units produced 5,000.00 7,000.00
Manufacturing Cost per Jo 36.86 43.59
D. Actual OH
Material 118,400.00
Machine 185,600.00 304,000.00
Less: Applied OH
Material 113,600.00
Machine 174,900.00 288,500.00
Underapplied OH 15,500.00
ed Manufacturing OH / Budgeted Production Activity
0/3200000
erial cost
Finishing Department
Job Alpha ( 6500 x 8 ) 52,000.00
Job Beta ( 11000 x 8 ) 88,000.00
Job Charlie ( 10000 x 8 ) 80,000.00
Job Delta ( 7500 x 8 ) 60,000.00
Job Echo ( 3000 x 8 ) 24,000.00 304,000.00
Total 796,000.00
C. Cost to Manufacture Each Job Job Alpha Job Beta
Assembly
Direct Materials 25,000.00 30,000.00
Direct Labor
Alpha ( 8000 x 5.5 ) 44,000.00
Beta ( 14000 x 5.5 ) 77,000.00
Charlie ( 9000 x 5.5 )
Delta ( 6000 x 5.5 )
Echo ( 4000 x 5.5 )
Factory Overhead 96,000.00 168,000.00
Total 165,000.00 275,000.00
Finishing
Direct Materials 12,000.00 25,000.00
Direct Labor
Alpha ( 1800 x 5.5 ) 9,900.00
Beta ( 2000 x 5.5 ) 11,000.00
Charlie ( 3500 x 5.5 )
Delta ( 3200 x 5.5 )
Echo ( 2800 X 5.5 )
Factory Overhead 52,000.00 88,000.00
Total 73,900.00 124,000.00
D.
Gross Profit (Sold at Cost + 40% mark - up)
Job Alpha Job Beta
Assembly 165,000.00 275,000.00
Finishing 73,900.00 124,000.00
Total 238,900.00 399,000.00
Add: Beginning Balance 35,000.00 50,000.00
Balance 273,900.00 449,000.00
Multiply by Mark-up (40%) 1.40 1.40
Sales Price 383,460.00 628,600.00
Less: Cost of Sales 273,900.00 449,000.00
Gross Profit 109,560.00 179,600.00
Job Charlie Job Delta Job Echo Total
49,500.00
33,000.00
22,000.00 225,500.00
108,000.00 72,000.00 48,000.00 492,000.00
197,500.00 155,000.00 95,000.00 887,500.00
19,250.00
17,600.00
15,400.00 73,150.00
80,000.00 60,000.00 24,000.00 304,000.00
129,250.00 79,600.00 44,400.00 451,150.00
A. July
Work in Process - Obama
Work in Process - Nixon
Work in Process - Bush
Total WIP, July
Less: Cost of Jobs Completed- Bush
Work in Process, end
August
Work in Process, beg
Add: Work in Process - Obama 44,000.00
Work in Process - Nixon 39,000.00
Work in Process - GMA 47,000.00
Work in Process - FVR 39,000.00
Total Work in Process, August
Less: Job Completed - Obama (52000+44000)
Work in Process, end
September
Work in Process, beg
Add: Work in Process - Nixon 30,000.00
Work in Process - GMA 45,000.00
Work in Process - FVR 36,000.00
Total Work in Process, September
Less: Jobs Completed
Nixon ( 39000 + 41000 + 30000) 110,000.00
GMA (47000 + 45000) 92,000.00
Work in Process, end
B. July
Jobs Completed- July
Multiply : GP rate
Gross Profit, August
August
Jobs Completed- August
Multiply : GP rate
Gross Profit, September
September
Jobs Completed- September
Multiply : GP rate
Gross Profit, October
52,000.00
41,000.00
12,000.00
105,000.00
12,000.00
93,000.00
93,000.00
169,000.00
262,000.00
96,000.00
166,000.00
166,000.00
111,000.00
277,000.00
202,000.00
75,000.00
12,000.00
0.40
4,800.00
96,000.00
0.40
38,400.00
202,000.00
0.40
80,800.00
Exercise 6-4
Raw Materials
Beg. Bal.- 100,000 500,000 - Issued
Purchases - 650,000
End. Bal. - 250,000
Work in Process
Beg. Bal.- 232,000 1,057,000 - Completed
Materials- 475,000
Direct Labor- 250,000
Overhead- 375,000
End. Bal - 250,000
Finished Goods
Beg. Bal. - 720,000 1,349,500 - Jobs Sold
Completed-1,057,000
End. Bal- 427,500
Cost of Sales
Jobs Sold- 1,349,500
Manufacturing Overhead
Indirect Mat. - 25,000 350,000 - Applied OH
Indirect Labor-75,000
Insurance - 30,000
Rent - 60,000
Maintenance - 12,000
Electricity - 36,000
Tax&Licenses-12,000
Misc. Cost - 20,000
Overapplied - 105,000
Job 500 - Sold
Beginning Balances
Add: Direct Materials (500,000 x 25%)
Direct Labor (250,000 x 25%)
Factory Overhead (62,500 x 140%)
Total
Beginning Balances
Add: Direct Materials (500,000 x 30%)
Direct Labor (250,000 x 30%)
Factory Overhead (75,000 x 140%)
Total
(c.)
Balances
Divided by
Percentage
Multiply by Overapplied Overhead
Adjusted Amount
Beginning Balance
Add: Raw Materials Purchased
Total
Less: Materials used in production
Raw Materials, end
Manila Manufacturing Company
Statement of Cost of Goods Manufactured and S
For the month ended September 20, 2020
Work in Process,beginning
Add: Direct Materials
Direct Labor
Factory Overhead
Total Cost Put into Process
Less: Work in Process,end
Cost of Goods Manufactured
Add: Finished Goods,beginning
Less: Finished Goods,end
Cost of Goods Sold
Direct Materials Direct Labor Factory Overhead
22,000 48,000 72,000
125,000
62,500
87,500
147,000 110,500 159,500
475,000
250,000
350,000
1,075,000
232,000
1,075,000
1,307,000
250,000
1,057,000
1,057,000
720,000
1,777,000
427,500
1,349,500
70,329
1,279,171
232,000
475,000
250,000
350,000 1,075,000
1,307,000
1,057,000
12,789
237,211
720,000
1,057,000
1,777,000
417,000
420,000
245,000
207,500 1,289,500
427,500
21,872
405,628
100,000
650,000
750,000
500,000
250,000
nila Manufacturing Company
Cost of Goods Manufactured and Sold
month ended September 20, 2020
232,000
475,000
250,000
350,000 1,075,000
1,332,000
237,211
1,094,789
720,000
405,629
1,409,160
Exercse 6-5
4. Work In Process- D
Factory Payroll
5. Finished Goods
15500 Work In Process
18000
15000
18500
18500
18500
15500
15500
7500
7500
7500
ry Payroll 7500
32440
In Process 32440