Ch.3 Jiraphat Assawachaichit 102B HW PDF

Title	Ch.3 Jiraphat Assawachaichit 102B HW
Author	Anonymous User
Course	Introduction To Managerial Accounting
Institution	University of California, Berkeley
Pages	4
File Size	104.2 KB
File Type	PDF
Total Downloads	44
Total Views	137

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Download Ch.3 Jiraphat Assawachaichit 102B HW PDF

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E3-6 1.

Schedule of good manufactured Direct Material:

Beg. Raw material

$7,000

Add: Raw Material purchased

$118,000

Raw Material available

$125,000

Deduct: End. Raw material

$15,000

Total Raw material used

$110,000

Direct Labor:

Direct Labor

$70,000

Manufacturing O.H. applied

$90,000

total manufacturing cost

$270,000

Add: Beg. WIP

$10,000

Deduct: End. WIP

$5,000

Cost of Good manufactured

$275,000

2. 90,000-80,000= overapplied O.H. of $10,000*

Schedule of COGS Beg. Finished goods inventory

$20,000.00

Add: Cost of goods manufactured

275,000

COGAFS

295,000

Deduct: End. Finished good inventory

35,000

Unadjusted COGS

260,000

Deduct: overapplied O.H.

10,000

Adjusted COGS

$250,000.00

3.

Income Statement Sales

$524,000

deduct: COGS

$250,000

Gross margin

$274,000

deduct: Selling expense

$140,000

deduct: Administrative expense

$63,000

Net operating income

$71,000

P3-14 1. POHR = 800,000/500,000 = $1.6/ direct labor-hours 2. Total manufacturing O.H. cost = 760,000 ; Manufacturing O.H. applied = $450,000 x 160% = 720,000. So, it’s underapplied for $40,000. 3.

Schedule of good manufactured Direct Material: Beg. Raw material

$20,000

Add: Raw Material purchased

$510,000

Raw Material available

$530,000

Deduct: End. Raw material

$80,000

Total Raw material used

$450,000

Direct Labor: Direct Labor

$90,000

Manufacturing O.H. applied

$720,000

total manufacturing cost

$1,260,000

Add: Beg. WIP

$150,000

Deduct: End. WIP

$70,000

Cost of Good manufactured

$1,340,000

4.

Schedule of COGS Beg. Finished goods inventory

$260,000.00

Add: Cost of goods manufactured

1,340,000

COGAFS

1,600,000

Deduct: End. Finished good inventory

400,000

Unadjusted COGS

1,200,000

5. O.H. = 160% x $24,000 direct materials cost = $38,400 ; therefore direct labor = 7,600 by solving equation.

Direct materials

$24,000

Direct labor

$7,600

Manufacturing O.H.

$38,400

WIP inventory

$70,000...