Business

Business, 08.10.2019 03:20, emmmssss21

Abc manufacturing inc. ends the month with two jobs still in progress. job 5 has $10,000 of materials, $2,000 of direct labor and $8,000 of manufacturing overhead allocated. job 6 has $30,000 of materials, $2,000 of direct labor and $12,000 of manufacturing overhead allocated. the cost of goods sold for the month was $40,000 and there was no finished goods in stock as the month ended. if the manufacturing overhead was underallocated by $10,000, which of the following choices would be the correct way to prorate it based on ending balances before proration? (round any allocation percentages to one decimal place, x. x%.)

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Business, 02.07.2019 17:10, ethan62211

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Business, 10.09.2019 17:10, emobirdy1122

Lott company uses a job order cost system and applies overhead to production on the basis of direct labor costs. on january 1, 2017, job no. 50 was the only job in process. the costs incurred prior to january 1 on this job were as follows: direct materials $ 20,000 , direct labor $ 12,000 , and manufacturing overhead $ 16,000 . as of january 1, job no. 49 had been completed at a cost of $ 90,000 and was part of finished goods inventory. there was a $ 15,000 balance in the raw materials inventory account. during the month of january, lott company began production on jobs 51 and 52, and completed jobs 50 and 51. jobs 49 and 50 were also sold on account during the month for $ 122,000 and $ 158,000 , respectively. the following additional events occurred during the month. 1. purchased additional raw materials of $ 90,000 on account. 2. incurred factory labor costs of $ 70,000 . of this amount $ 16,000 related to employer payroll taxes. 3. incurred manufacturing overhead costs as follows: indirect materials $ 17,000 ; indirect labor $ 20,000 ; depreciation expense on equipment $ 12,000 ; and various other manufacturing overhead costs on account $ 16,000 . 4. assigned direct materials and direct labor to jobs as follows. job no. direct materials direct labor 50 $ 10,000 $ 5,000 51 39,000 25,000 52 30,000 20,000 warning don't show me this message again for the assignment ok cancel

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Business, 13.09.2019 02:20, dertydee

Phillips corporation’s fiscal year ends on november 30. the following accounts are found in its job order cost accounting system for the first month of the new fiscal year.other data: 1. on december 1, two jobs were in process: job no. 154 and job no. 155. these jobs had combined direct materials costs of $9,750 and direct labor costs of $15,000. overhead was applied at a rate that was 75% of direct labor cost.2. during december, job nos. 156, 157, and 158 were started. on december 31, job no. 158 was unfinished. this job had charges for direct materials $3,800 and direct labor $4,800, plus manufacturing overhead. all jobs, except for job no. 158, were completed in december.3. on december 1, job no. 153 was in the finished goods warehouse. it had a total cost of $5,000. on december 31, job no. 157 was the only job finished that was not sold. it had a cost of $4,000.4. manufacturing overhead was $1,470 underapplied in december.

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Business, 05.10.2019 04:10, gungamer720

Abc manufacturing inc. ends the month with two jobs still in progress. job 5 has $10,000 of materials, $2,000 of direct labor and $8,000 of manufacturing overhead allocated. job 6 was $30,000 of materials, $2,000 of direct labor and $10,000 of manufacturing overhead allocated. the cost of goods sold for the month was $40,000 and of that 30% was overhead. there were no finished goods in stock as the month ends. if the manufacturing overhead is underallocated by $10,000, which of the following choices would be the correct way to prorate it, assuming the proration is based on the allocated overhead in the ending balances of work-in-process, finished goods, and cost of goods sold? (round any allocation percentages to one decimal place, x.x%.)

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