E4-4 Manufacturing Costs; Cost of Goods Manufactured; Inventories. Cost data on the activities of Columbia Manufacturing for May are as follows: April 30 (a) Account balances: Finished Goods Work in Process. Direct Material. Indirect Material.. (b) Transactions in May: Supplies purchased. Cost of goods sold..... Raw materials purchased.. Indirect labor................. Factory heat, light, and power. Factory rent.... Factory insurance Sales commissions.... ******** ********* **************** ******* Administrative expenses..... Production supervisor's salary *********** $45,602 60,420 10,250 5,600 May 31 Required: (1) Calculate the factory overhead incurred in May. (2) Determine the cost of goods manufactured in May. (3) Determine the ending balance in finished goods at May 31. $ ? 52,800 12,700 5,180 $ 16,500 280,000 105,000 22,000 11,220 18,500 2,000 48,000 25,000 5,000 (c) 4,250 direct labor hours were worked in May. Laborers work a 40-hour week and are paid $22 per hour for the regular shift and time-and-a-half for each hour of overtime. Of the 4,250 hours, 250 hours were worked in overtime in May. The company treats the overtime premium as a part of overhead. ve

E4-4 Manufacturing Costs; Cost of Goods Manufactured; Inventories. Cost data on the activities of Columbia Manufacturing for May are as follows: April 30 (a) Account balances: Finished Goods Work in Process. Direct Material. Indirect Material.. (b) Transactions in May: Supplies purchased. Cost of goods sold..... Raw materials purchased.. Indirect labor................. Factory heat, light, and power. Factory rent.... Factory insurance Sales commissions.... **** * ******** * Administrative expenses..... Production supervisor's salary ********* $45,602 60,420 10,250 5,600 May 31 Required: (1) Calculate the factory overhead incurred in May. (2) Determine the cost of goods manufactured in May. (3) Determine the ending balance in finished goods at May 31. $ ? 52,800 12,700 5,180 $ 16,500 280,000 105,000 22,000 11,220 18,500 2,000 48,000 25,000 5,000 (c) 4,250 direct labor hours were worked in May. Laborers work a 40-hour week and are paid $22 per hour for the regular shift and time-and-a-half for each hour of overtime. Of the 4,250 hours, 250 hours were worked in overtime in May. The company treats the overtime premium as a part of overhead. ve

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Description: Note: PLEASE SOLVE IN EXCEL AND PLEASE PROVIDE THE FORMULA USED IN EXCEL. Thank you E4-4 Manufacturing Costs; Cost of Goods Manufactured; Inventories. Cost data on theactivities of Columbia Manufacturing for May are as follows:April 30(a) Account bal

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 12PB: The following data summarize the operations during the year. Prepare a journal entry for each...

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