Your manager asks you to bring the following incomplete accounts of Endeavor Printing, Inc.,up to date through January 31, 2017. Consider the data that appear in the T-accounts as wellas the following information in items (a) through (j).Endeavor's normal-costing system has two direct-cost categories (direct material costs anddirect manufacturing labor costs) and one indirect-cost pool (manufacturing overhead costs,which are allocated using direct manufacturing labor costs).Materials ControlWages Payable Control12-31-2016 Bal. 30,0001-31-2017 Bal. 6,000Work-in-Process ControlManufacturing Overhead Control1-31-2017 Bal. 114,000Finished Goods ControlCosts of Goods Sold12-31-2016 Bal. 40,000Additional information follows:a. Manufacturing overhead is allocated using a budgeted rate that is set every December.You forecast next year's manufacturing overhead costs and next year's direct manufactur-ing labor costs. The budget for 2017 is $1,200,000 for manufacturing overhead costs and$800,000 for direct manufacturing labor costs.b. The only job unfinished onlabor costs are $4,000 (250 direct manufacturing labor-hours) and direct material costs$16,000.January 31, 2017, is No. 419, on which direct manufacturingareproduction during January 2017 are $180,000.c. Total direct materials issued tod. Cost of goods completed during January is $360,000.e. Materials inventory as of January 31, 2017, is $40,000.f. Finished-goods inventory as of January 31, 2017, is $30,000.g. All plant workers earn the same wage rate. Direct manufacturing labor-hours used forJanuary total 5,000 hours. Other labor costs total $20,000.h. The gross plant payroll paid in January equals $104,000. Ignore withholdings.i. All "actual" manufacturing overhead cost incurred during January has already beenposted.j. All materials are direct materials.Calculate the following:1. Materials purchased during January2. Cost of Goods Sold during January3. Direct manufacturing labor costs incurred during January4. Manufacturing Overhead Allocated during January5. Balance, Wages Payable Control, December 31, 20166. Balance, Work-in-Process Control, January 31, 20177. Balance, Work-in-Process Control, December 31, 20168. Manufacturing Overhead Underallocated or Overallocated for January 2017

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Asked Sep 10, 2019
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Your manager asks you to bring the following incomplete accounts of Endeavor Printing, Inc.,
up to date through January 31, 2017. Consider the data that appear in the T-accounts as well
as the following information in items (a) through (j).
Endeavor's normal-costing system has two direct-cost categories (direct material costs and
direct manufacturing labor costs) and one indirect-cost pool (manufacturing overhead costs,
which are allocated using direct manufacturing labor costs).
Materials Control
Wages Payable Control
12-31-2016 Bal. 30,000
1-31-2017 Bal. 6,000
Work-in-Process Control
Manufacturing Overhead Control
1-31-2017 Bal. 114,000
Finished Goods Control
Costs of Goods Sold
12-31-2016 Bal. 40,000
Additional information follows:
a. Manufacturing overhead is allocated using a budgeted rate that is set every December.
You forecast next year's manufacturing overhead costs and next year's direct manufactur-
ing labor costs. The budget for 2017 is $1,200,000 for manufacturing overhead costs and
$800,000 for direct manufacturing labor costs.
b. The only job unfinished on
labor costs are $4,000 (250 direct manufacturing labor-hours) and direct material costs
$16,000.
January 31, 2017, is No. 419, on which direct manufacturing
are
production during January 2017 are $180,000.
c. Total direct materials issued to
d. Cost of goods completed during January is $360,000.
e. Materials inventory as of January 31, 2017, is $40,000.
f. Finished-goods inventory as of January 31, 2017, is $30,000.
g. All plant workers earn the same wage rate. Direct manufacturing labor-hours used for
January total 5,000 hours. Other labor costs total $20,000.
h. The gross plant payroll paid in January equals $104,000. Ignore withholdings.
i. All "actual" manufacturing overhead cost incurred during January has already been
posted.
j. All materials are direct materials.
Calculate the following:
1. Materials purchased during January
2. Cost of Goods Sold during January
3. Direct manufacturing labor costs incurred during January
4. Manufacturing Overhead Allocated during January
5. Balance, Wages Payable Control, December 31, 2016
6. Balance, Work-in-Process Control, January 31, 2017
7. Balance, Work-in-Process Control, December 31, 2016
8. Manufacturing Overhead Underallocated or Overallocated for January 2017
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Your manager asks you to bring the following incomplete accounts of Endeavor Printing, Inc., up to date through January 31, 2017. Consider the data that appear in the T-accounts as well as the following information in items (a) through (j). Endeavor's normal-costing system has two direct-cost categories (direct material costs and direct manufacturing labor costs) and one indirect-cost pool (manufacturing overhead costs, which are allocated using direct manufacturing labor costs). Materials Control Wages Payable Control 12-31-2016 Bal. 30,000 1-31-2017 Bal. 6,000 Work-in-Process Control Manufacturing Overhead Control 1-31-2017 Bal. 114,000 Finished Goods Control Costs of Goods Sold 12-31-2016 Bal. 40,000 Additional information follows: a. Manufacturing overhead is allocated using a budgeted rate that is set every December. You forecast next year's manufacturing overhead costs and next year's direct manufactur- ing labor costs. The budget for 2017 is $1,200,000 for manufacturing overhead costs and $800,000 for direct manufacturing labor costs. b. The only job unfinished on labor costs are $4,000 (250 direct manufacturing labor-hours) and direct material costs $16,000. January 31, 2017, is No. 419, on which direct manufacturing are production during January 2017 are $180,000. c. Total direct materials issued to d. Cost of goods completed during January is $360,000. e. Materials inventory as of January 31, 2017, is $40,000. f. Finished-goods inventory as of January 31, 2017, is $30,000. g. All plant workers earn the same wage rate. Direct manufacturing labor-hours used for January total 5,000 hours. Other labor costs total $20,000. h. The gross plant payroll paid in January equals $104,000. Ignore withholdings. i. All "actual" manufacturing overhead cost incurred during January has already been posted. j. All materials are direct materials. Calculate the following: 1. Materials purchased during January 2. Cost of Goods Sold during January 3. Direct manufacturing labor costs incurred during January 4. Manufacturing Overhead Allocated during January 5. Balance, Wages Payable Control, December 31, 2016 6. Balance, Work-in-Process Control, January 31, 2017 7. Balance, Work-in-Process Control, December 31, 2016 8. Manufacturing Overhead Underallocated or Overallocated for January 2017

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Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and specify the other subparts (up to 3) you’d like answered

Step 2

The materials purchased during the month=Material transferred + Closing Inventory-Opening Inventory= ($180,000+40,000-30,000)=$190,000

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Materials Control 30,000 190,000 31-Jan-17 Balance c/d WIP control 180,000 31-Dec-16 Bal Purchases 40,000 (balancing figure) 220,000 220,000

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Step 3

Cost of goods sold=Opening FG+ Additions to  FG inventor...

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Finished Goods Control Cost of goods sold 40,000 Transfer from WIP 360,000 31-Jan-17 Balance c/d (Balancing fig) 370,000 30,000 31-Dec-16 Bal 400,000 400,000

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