The WildSide Company modifies production motorcycles for superbike racing to customer order. It operates a jobcosting system. The following information is available for the month of June 20X3:Purchases during June:Direct material$30,000Direct labour costs incurred during June: 20,400 (i.e. $40 per hour * 510 hours).Manufacturing overhead is applied based on a rate $1.5 per direct labour dollar.Other costs incurred during June:Manufacturing supplies inventory issued$6.000Indirect labour cost$3,500Depreciation of manufacturing equipment$12,000Electricity-Factory$8,500Jobs costing $64,500 were sold at the price of $76,400 on credit at the end of June.Required:Complete the T- accounts providing the amounts of a) to p) to show the flow of costs through the company'smanufacturing accounts.Raw materials inventoryWork in process inventoryO/B$30,000 b)O/B$46,250a)c)d)e)CGM53,250f)C/B71,500Finished goods inventoryCost of goods soldO/B$34,500 h)i)j)g)C/B23,250ectangular SnipManufacturing overheadk)p)1)m)n)o)Note: O/B denotes opening balance on 1 June. C/B denotes closing balance on 30 June. CGMdenotes costs of goods manufactured.

Name: The WildSide Company modifies production motorcycles for superbike ra
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Description: The WildSide Company modifies production motorcycles for superbike racing to customer order. It operates a jobcosting system. The following information is available for the month of June 20X3:Purchases during June:Direct material$30,000Direct labour

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The WildSide Company modifies production motorcycles for superbike racing to customer order. It operates a job costing system. The following information is available for the month of June 20X3: Purchases during June: Direct material $30,000 Direct labour costs incurred during June: 20,400 (i.e. $40 per hour * 510 hours). Manufacturing overhead is applied based on a rate $1.5 per direct labour dollar. Other costs incurred during June: Manufacturing supplies inventory issued $6,000 Indirect labour cost $3,500 Depreciation of manufacturing equipment $12,000 Electricity-Factory S8,500 Jobs costing S64,500 were sold at the price of $76,400 on credit at the end of June. Required: Complete the T- accounts providing the amounts of a) to p) to show the flow of costs through the company's manufacturing accounts. Raw materials inventory Work in process inventory OB $30,000 b) OB $46,250 a) c) d) e) CGM 53,250 f) СВ 71,500 Finished goods inventory Cost goods sold O/B $34,500 h) i) j) g) CB 23,250 Manufacturing overhead k) p) 1) m) o) Note: OB denotes opening balance on 1 June. CB denotes closing balance on 30 June. CGM denotes costs of goods manufactured.

The WildSide Company modifies production motorcycles for superbike racing to customer order. It operates a job costing system. The following information is available for the month of June 20X3: Purchases during June: Direct material $30,000 Direct labour costs incurred during June: 20,400 (i.e. $40 per hour * 510 hours). Manufacturing overhead is applied based on a rate $1.5 per direct labour dollar. Other costs incurred during June: Manufacturing supplies inventory issued $6,000 Indirect labour cost $3,500 Depreciation of manufacturing equipment $12,000 Electricity-Factory S8,500 Jobs costing S64,500 were sold at the price of $76,400 on credit at the end of June. Required: Complete the T- accounts providing the amounts of a) to p) to show the flow of costs through the company's manufacturing accounts. Raw materials inventory Work in process inventory OB $30,000 b) OB $46,250 a) c) d) e) CGM 53,250 f) СВ 71,500 Finished goods inventory Cost goods sold O/B $34,500 h) i) j) g) CB 23,250 Manufacturing overhead k) p) 1) m) o) Note: OB denotes opening balance on 1 June. CB denotes closing balance on 30 June. CGM denotes costs of goods manufactured.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 15E: LeMans Company produces specialty papers at its Fox Run plant. At the beginning of June, the...

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