Marigold Company purchases $54,800 of direct raw materials and it incurs $63,600 of direct factory labor costs. Supporting records show that (a) the Assembly Department used $29,700 of direct raw materials and $42.900 of direct factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Record the assignment of overhead to the Assembly and Finishing Departments using the following format. Assume the balance in Manufacturing Overhead was $109,760 prior to assignment. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45)) Balance Assigning Overhead Manufacturing Costs Raw Materials Inventory $ Factory Labor $ Manufacturing Overhead. Work in Pi Assembly $

Marigold Company purchases $54,800 of direct raw materials and it incurs $63,600 of direct factory labor costs. Supporting records show that (a) the Assembly Department used $29,700 of direct raw materials and $42.900 of direct factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Record the assignment of overhead to the Assembly and Finishing Departments using the following format. Assume the balance in Manufacturing Overhead was $109,760 prior to assignment. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45)) Balance Assigning Overhead Manufacturing Costs Raw Materials Inventory $ Factory Labor $ Manufacturing Overhead. Work in Pi Assembly $

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Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 7BE: In October, the cost of materials transferred into the Rolling Department from the Casting...

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