Please do not give solution in image format thanku Green Cabinets is a custom cabinet builder. It recently completed a set of kitchen cabinets (Job 1478), as summarized below.Job Number: 1478Date Started: 4/07/20x8Date Completed: 4/22/20x8Description: Cherry kitchen cabinetsDirect MaterialsRequisitionNumber385391395401TotalAmount$365290215280$ 1,150Ticket128Direct Materials CostDirect Labor CostApplied Manufacturing OverheadTotal Costa. Applied Manufacturing Overheadb. Total Cost130133TotalDirect LaborHours162312Amount$ 49672542051Cost Summary$ 1,641$ 1,1501,641Applied Manufacturing OverheadHoursAmountGreen Cabinets applies overhead to jobs at a rate of $17 per direct labor hour.Required:a. How much overhead would be applied to Job 1478?b. What is the total cost of Job 1478?Rate

As per the given information: Direct Materials cost - $1,150Direct labor cost - $1,641 To determine:…

Answered: Green Cabinets is a custom cabinet…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Donna Corporation manufactures custom cabinets for kitchens. It uses a normalcosting system with two direct-cost categories—direct materials and direct manufacturing labor—and one indirect-cost pool, manufacturing overhead costs. It providesthe following information about manufacturing overhead costs for April 2017.Actual direct materials used $60,000Actual direct manufacturing labor costs paid in cash 54,000Indirect materials used $3,000Supervision and engineering salaries paid in cash $50,000Plant utilities and repairs paid in cash 10,000Plant depreciation $16,000Actual direct manufacturing labor-hours 2,700Cost of individual jobs completed and transferred to finished goods $180,000Cost of goods sold $175,000The following information is also available for 2017:Budgeted manufacturing overhead costs for 2017 $960,000Direct manufacturing labor-hours for 2017 32,000 hoursPresent journal entries for (a) usage of direct and indirect materials, (b) manufacturinglabor incurred, (c)…
Mesa Designs produces a variety of hardware products, primarily for the do-it-yourself (DIY) market. As part of your job interview as a summer intern at Mesa, the cost accountant provides you with the following (fictitious) data for the year (in $000). Inventory information: 1/1/00 12/31/00 Direct materials $96 $110 Work-in-process 152 136 Finished goods 1,974 2,026 Other information: For the year ’00 Administrative costs $4,200 Depreciation (Factory) 5,560 Depreciation (Machines) 9,240 Direct labor 13,000 Direct materials purchased 10,300 Indirect labor (Factory) 3,340 Indirect materials (Factory) 960 Property taxes (Factory) 370 Selling costs 2,140 Sales revenue 60,220 Utilities (Factory) 1,060 Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement.
Cullumber Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending on customer preference. On June 1, 2022, the general ledger for Cullumber Inc. contains the following data. Raw Materials Inventory $4,600 Manufacturing Overhead Applied $35,500 Work in Process Inventory $5,900 Manufacturing Overhead Incurred $30,000 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $600 $700 $1,000 Direct labor 300 600 700 Manufacturing overhead 375 750 875 $1,275 $2,050 $2,575 During June, raw materials purchased on account were $4,900, and $4,600 of factory wages were paid. Additional overhead costs consisted of depreciation on equipment $1,000 and miscellaneous costs of $400 incurred on account.A…
Cullumber Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending on customer preference. On June 1, 2022, the general ledger for Cullumber Inc. contains the following data. Raw Materials Inventory $4,600 Manufacturing Overhead Applied $35,500 Work in Process Inventory $5,900 Manufacturing Overhead Incurred $30,000 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $600 $700 $1,000 Direct labor 300 600 700 Manufacturing overhead 375 750 875 $1,275 $2,050 $2,575 During June, raw materials purchased on account were $4,900, and $4,600 of factory wages were paid. Additional overhead costs consisted of depreciation on equipment $1,000 and miscellaneous costs of $400 incurred on account.A…
The business manufactures custom patios made of concrete, brick, fiberglass, and lumber- depending upon customer preference. The company's fiscal year is the calendar year. At the beginning of July, selected balances were as follows: Direct Materials Inventory, July 1 $4200 Work-In-Process Inventory, July 1 5540* Manufacturing Overhead Applied to Date 32640 Actual Manufacturing Overhead to Date 31650 *Details for Work in Process Job 85 Job 86 Job 87 Total Direct Materials $600 800 900 Direct Labor 320 540 580 Manufacturing Overhead 400 675 725 = 1320 + 2015 + 2205 = 5540 (the last row are the separate columns added together and then totaled at the end). During July, total direct materials purchased were $4900. Overhead costs incurred were $3800. Direct materials and direct labor used were as follows: Materials Requested Amounts Labor Time Ticket Amounts Job 85 $1100 $840 Job 86 500 360 Job 87 1300 1200…
The business manufactures custom patios made of concrete, brick, fiberglass, and lumber- depending upon customer preference. The company's fiscal year is the calendar year. At the beginning of July, selected balances were as follows: Direct Materials Inventory, July 1 $4200 Work-In-Process Inventory, July 1 5540* Manufacturing Overhead Applied to Date 32640 Actual Manufacturing Overhead to Date 31650 *Details for Work in Process Job 85 Job 86 Job 87 Total Direct Materials $600 800 900 Direct Labor 320 540 580 Manufacturing Overhead 400 675 725 = 1320 + 2015 + 2205 = 5540 (the last row are the separate columns added together and then totaled at the end). During July, total direct materials purchased were $4900. Overhead costs incurred were $3800. Direct materials and direct labor used were as follows: Materials Requested Amounts Labor Time Ticket Amounts Job 85 $1100 $840 Job 86 500 360 Job 87 1300 1200…
Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this year’s production: Units to Account For Units Materials Conversion Beginning work in process inventory 400 400 250 Started 21,600 Total units to accounted for 22,000 Ending inventory was 100% complete as to materials and 80% complete as to conversion, and the total materials cost is $60,940 and the total conversion cost is $37,590. Using the weighted-average method, what are the unit costs if the company transferred out 17,000 units? If required, round final answers to two decimal places. Costper unit Materials $fill in the blank 1 Conversion $fill in the blank 2 Using the weighted-average method, what is the value of the inventory transferred out and the value of the ending WIP inventory? Inventory transferred out $fill in the blank 3…
Donna Corporation manufactures custom cabinets for kitchens. It uses a normalcosting system with two direct-cost categories—direct materials and direct manufacturing labor—and one indirect-cost pool, manufacturing overhead costs. It providesthe following information about manufacturing overhead costs for 2017.Budgeted manufacturing overhead costs $960,000Budgeted direct manufacturing labor-hours 32,000 hoursActual manufacturing overhead costs $992,000Actual direct manufacturing labor-hours 31,000 hoursThe following information is available as of December 31, 2017.AccountAccount Balance(Before Proration)Manufacturing Overhead in EachAccount Balance Allocated in theCurrent Year (Before Proration)Work-in-Process Control $ 40,000 $ 14,400Finished Goods Control 60,000 24,000Cost of Goods Sold 1,900,000 921,600$2,000,000 $960,000Calculate the underallocated or overallocated manufacturing overhead at the end of 2017and prorate it to Work-in-Process Control, Finished Goods Control, and Cost of…
Stutz, Inc. designs and builds basketball gymnasiums. Each gymnasium is custom-built to individual customers’ specifications. Stutz uses job-order costing to keep track of its costs. In February it worked on three jobs. Data for these jobs are as follows: Job 175 Job 178 Job 179 Balance 2/1 $13,790 $ 0 $0 Direct Materials 16,200 8,500 30,500 Direct Labor Cost 23,300 7,600 45,000 Machine Hours 400hrs. 300hrs. 2,000hrs. Overhead is applied to jobs at the rate of $25 per machine hour. By February 28, Job 178 is the only one unfinished. The balance of Finished Goods on February 1 is $94,000 (consisting of Job 177). Jobs 177 and 179 are sold during February. Stutz sells its product at cost plus 40%. Calculate the balance in Work-in-Process on February 28.
Jasper Carts manufactures custom carts for a variety of uses. The following data have been recorded for Job 651, which was recently completed. Direct materials used cost $7,700. There were 178 direct labor hours worked on this job at a direct labor wage rate of $22 per hour. There were 90 machine hours used on this job. The predetermined overhead rate is $32 per machine hour used. What is the total manufacturing cost of Job 651?
Marigold Corp. manufactures customized desks. The following pertains to Job No. 978: Direct materials used $15450 Direct labor hours worked 160 Direct labor rate per hour $15.00 Machine hours used 100 Applied factory overhead rate per machine hour $22.00 What is the total manufacturing cost for Job No. 978? $20050 $21150 $21550 $18250
Redwoods Company designs and builds exotic furniture for individual customers. On March 1, there were two jobs in process: Job 400 with a beginning balance of $23,000 and Job 402 with a beginning balance of $6,000. Overhead costs are applied by using a rate of 50% of direct labor costs. Both jobs are unfinished on March 31. Data on March costs for both the jobs are as follows: Job 400 Job 402 Direct materials $6,000 $ 10,000 Direct labor cost 4,000 13,000 What is the total of the work-in-process account on March 31? a.$38,000 b.$58,490 c.$45,000 d.$70,500 e.None of these choices are correct.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS