PROBLEM 3-11 T-Account Analysis of cost Flows L03-2, L03-3, L03-4
Selected T -accounts of Moore Company are given below for the just completed year:
1. What was the cost of raw materials used in production during the year?
2. How much of the materials in (I) consisted of indirect materials?
3. How much of the factory for the vet consisted of indirect labor?
4. What was the cost of manufactured for the year?
5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied
6. If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year?
7. Was manufacturing overhead underapplied or overapplied? By how much?
8. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods during the year. If $8,000 of this balance is direct labor how much of it is direct materials cost? Applied overhead cost?
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Chapter 3 Solutions
Loose Leaf For Introduction To Managerial Accounting
- Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Overhead is applied on the basis of direct labor hours. Required: 1. What was the predetermined overhead rate? 2. What was the applied overhead for last year? 3. Was overhead over- or underapplied, and by how much? 4. What was the total cost per unit produced (carry your answer to four significant digits)?arrow_forwardCost of direct materials used in production for a manufacturing company Walker Manufacturing Company reported the following materials data for the month ending June 30: Determine the cost of direct materials used in production by Walker during the month ended June 30.arrow_forwardRequired: 1. What was the cost of raw materials put into production during the year?    2. How much of the materials in requirement 1 consisted of indirect materials?    3. How much of the factory labour cost for the year consisted of indirect labour?    4. What was the cost of goods manufactured for the year?    5. What was the cost of goods sold for the year (before considering underapplied or overapplied overhead)?    6. If overhead is applied to production on the basis of direct materials cost, what rate was in effect during the year?    7. Was manufacturing overhead underapplied or overapplied? By how much?    8. Compute the ending balance in the Work in Process inventory account. Assume that this balance consists entirely of goods started during the year. If $33,200 of this balance is direct materials cost, how much of it is direct labour cost? Manufacturing overhead cost?arrow_forward
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- Cornerstones of Cost Management (Cornerstones Ser...AccountingISBN:9781305970663Author:Don R. Hansen, Maryanne M. MowenPublisher:Cengage LearningManagerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College Pub