Homework Answers
15-4) Calculate missing amount
| Case A | Case B | Case C | |
| Direct material used | a) 41650 | 89500 | 65450 |
| Direct labor | 60000 | 142400 | h) 86000 |
| Manufacturing overhead | 45000 | d) 106800 | i) 64500 |
| Total manufacturing cost | 146650 | e) 338700 | 215950 |
| Work in process 1/1/17 | b) 61350 | 16100 | 18600 |
| Total Cost of work in process | 208000 | f) 354800 | j) 234550 |
| Work in process, 12/31/17 | c) 14500 | 16900 | k) 4350 |
| Cost of goods manufactured | 193500 | g) 337900 | 230200 |
Overhead rate = 45000/60000 = 75% of direct labor cost
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Indicate the missing amount for each letter. Assume that in all cases...
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Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct abor cost and the rate is the same. (Round overhead rate to 2 decimal places, e.g. 15.25 and final answers to O decimal places, eg 5,275.) Case A Case B Case C $66,750 Direct materials used $ Direct labor Manufacturing $86,500 56,000 142,700 42,000 overhead applied Total manufacturing 149,750 213,750 costs Work in process 1/1/17 25,200 18,600 Total cost...
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Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $49,700. 2. Raw Materials...
Crawford Corporation incurred the following
transactions.
1.
Purchased raw materials on account $49,700.
2.
Raw Materials of $41,700 were requisitioned to the factory. An
analysis of the materials requisition slips indicated that $8,100
was classified as indirect materials.
3.
Factory labor costs incurred were $61,900, of which $50,500
pertained to factory wages payable and $11,400 pertained to
employer payroll taxes payable.
4.
Time tickets indicated that $55,400 was direct labor and $6,500
was indirect labor.
5.
Manufacturing overhead costs incurred...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $55,500. 2. Raw Materials...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $55,500. 2. Raw Materials of $43,700 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,600 was classified as indirect materials. 3. Factory labor costs incurred were $65,600, of which $50,000 pertained to factory wages payable and $15,600 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,400 was direct labor and $10,200 was indirect labor. 5. Manufacturing overhead costs incurred...
Lott Company uses a job order cost system and applies overhead to production on the basis...
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Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct abor cost and the rate is the same. (Round overhead rate to 2 decimal places, e.g. 15.25 and final answers to O decimal places, eg 5,275.) Case A Case B Case C $66,750 Direct materials used $ Direct labor Manufacturing $86,500 56,000 142,700 42,000 overhead applied Total manufacturing 149,750 213,750 costs Work in process 1/1/17 25,200 18,600 Total cost...
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Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $47,000. 2. Raw Materials of $44,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,300 was classified as indirect materials. 3. Factory labor costs incurred were $60,100, of which $51,000 pertained to factory wages payable and $9,100 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,400 was direct labor and $5,700 was indirect labor. 5. Manufacturing overhead costs incurred...
Exercise 15-7 Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $53,000. 2. Raw Materials of $45,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,400 was classified as indirect materials. 3. Factory labor costs incurred were $65,400, of which $50,200 pertained to factory wages payable and $15,200 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,000 was direct labor and $10,400 was indirect labor. 5. Manufacturing overhead...
Crawford Corporation incurred the following
transactions.
1.
Purchased raw materials on account $49,700.
2.
Raw Materials of $41,700 were requisitioned to the factory. An
analysis of the materials requisition slips indicated that $8,100
was classified as indirect materials.
3.
Factory labor costs incurred were $61,900, of which $50,500
pertained to factory wages payable and $11,400 pertained to
employer payroll taxes payable.
4.
Time tickets indicated that $55,400 was direct labor and $6,500
was indirect labor.
5.
Manufacturing overhead costs incurred...
Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $55,500. 2. Raw Materials of $43,700 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,600 was classified as indirect materials. 3. Factory labor costs incurred were $65,600, of which $50,000 pertained to factory wages payable and $15,600 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,400 was direct labor and $10,200 was indirect labor. 5. Manufacturing overhead costs incurred...
Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $24.800, direct labor $14,880, and manufacturing overhead $19.840. As of January 1. Job 49 had been completed at a cost of $111.600 and was part of finished goods inventory. There was a $18,600...
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