Homework Answers
Calculation of Missing Amounts
| Case A | Case B | |
| Direct Material Used | 53350 | 87,700 |
| Direct Labor | 52,000 | 147,400 |
| Manufacturing overhead applied | 41600 | 117920 |
| Total manufacturing cost | 146,950 | 353020 |
| Work in process 1/1/20 | 56,750 | 25,100 |
| Total Cost of work in progress | 203,700 | 378120 |
| Work in process 12/31/20 | 6,900 | 15,500 |
| Cost of Goods Manufactured | 196,800 | 362,620 |
Working Notes:-
Case A:-
- (a) Total manufacturing Cost= Direct material used+Direct
labour+manufacturing Overhead.
Total manufacturing Costs 146950 Less:Direct Labour (52,000) manufacturing Overhead applied (41,600) Direct material Used 53350
- (b) Total Cost of work in progress=Total Manufacturing Cost+
Beginning WIP
Total Cost of work in progress 203,700 Less:Total Manufacturing Cost (146,950) Work in process 1/1/20 56,750 - (c) Cost of Goods Manufactured=Total Cost of work in
progress-Ending WIP
Total Cost of work in progress 203,700 Less:Cost of Goods Manufactured (196,800) Work in process 12/31/20 6900
Case B:-
- (d) Since Manufacturing Overhead is applied on the basis of Direct Labour Cost
Overhead Rate= 41,600/52,000=80%
Manufacturing Overhead applied in Case B=147,400*80%=117920
- (e) Total manufacturing Cost= Direct Material Used+Direct labor+Manufacturing Overhead applied
=87,700+147,400+117920=353020
- (f) Total Cost of WIP=Total manufacturing Cost+ Beginning WIP
=353020+25,100=378,120
- (g) Cost of Goods Manufactured=Total Cost of work in progress-Ending WIP
=378120-15500=362620
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