![subject](/tpl/images/cats/ekonomika.png)
Business, 28.01.2020 19:51 alysonmariefont
Gitano products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production (not on the basis of raw materials purchased). its predetermined overhead rate was based on a cost formula that estimated $800,000 of manufacturing overhead for an estimated allocation base of $500,000 direct material dollars to be used in production. the company has provided the following data for the just completed year:
purchase of raw materials $510,000
direct labor cost $90,000
manufacturing overhead costs:
indirect labor $170,000
property taxes $48,000
depreciation of equipment $260,000
maintenance $95,000
insurance $7,000
rent, building $180,000
beginning ending
raw materials $20,000 $80,000
work in process $150,000 $70,000
finished goods $260,000 $400,000
required:
1. compute the predetermined overhead rate for the year.
2. compute the amount of underapplied or overapplied overhead for the year.
3. prepare a schedule of cost of goods manufactured for the year. assume all raw materials are used in production as direct materials.
4. compute the unadjusted cost of goods sold for the year. do not include any underapplied or overapplied overhead in your answer.
5. assume that the $70,000 ending balance in work in process includes $24,000 of direct materials.
given this assumption, supply the information missing below:
direct materials $24,000
direct labor ?
manufacturing overhead ?
work in process inventory $70,000
![ansver](/tpl/images/cats/User.png)
Answers: 1
![](/tpl/images/ask_question.png)
![](/tpl/images/ask_question_mob.png)
Other questions on the subject: Business
![image](/tpl/images/cats/ekonomika.png)
Business, 21.06.2019 22:30, izzybellee20004
Before contacting the news or print media about your business, what must you come up with first ? a. a media expertb. a big budgetc. a track recordd. a story angle
Answers: 1
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 08:30, Naomi7021
Conor is 21 years old and just started working after college. he has opened a retirement account that pays 2.5% interest compounded monthly. he plans on making monthly deposits of $200. how much will he have in the account when he reaches 591 years of age?
Answers: 2
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 13:10, KillerSteamcar
A4-year project has an annual operating cash flow of $59,000. at the beginning of the project, $5,000 in net working capital was required, which will be recovered at the end of the project. the firm also spent $23,900 on equipment to start the project. this equipment will have a book value of $5,260 at the end of the project, but can be sold for $6,120. the tax rate is 35 percent. what is the year 4 cash flow?
Answers: 2
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 18:00, Mw3spartan17
In which job role will you be creating e-papers, newsletters, and periodicals?
Answers: 1
You know the right answer?
Gitano products operates a job-order costing system and applies overhead cost to jobs on the basis o...
Questions in other subjects:
![Konu](/tpl/images/cats/istoriya.png)
![Konu](/tpl/images/cats/himiya.png)
Chemistry, 18.03.2021 02:50
![Konu](/tpl/images/cats/mat.png)
Mathematics, 18.03.2021 02:50
![Konu](/tpl/images/cats/istoriya.png)
History, 18.03.2021 02:50
![Konu](/tpl/images/cats/mat.png)
![Konu](/tpl/images/cats/health.png)
![Konu](/tpl/images/cats/mat.png)
Mathematics, 18.03.2021 02:50
![Konu](/tpl/images/cats/himiya.png)
Chemistry, 18.03.2021 02:50
![Konu](/tpl/images/cats/health.png)
Health, 18.03.2021 02:50
![Konu](/tpl/images/cats/es.png)
Spanish, 18.03.2021 02:50