For each of the following independent cases (A to E), compute the missing values in the tabl Case A B C שום D E Conversion Cost 57,300 Prime Cost $ 9,560 $ 16,470 $ Direct Materials 110,600 48,750 3,950 10,130 41,500 20,500 Direct Manufacturing Labor Overhead 7,400 12,650 14,400 $ 10,860 25,200 24,300 Total Manufacturing Cost 42,730 69,250 57 500
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- ilrn/takeAssignment/takeAssignmentMain.do?invoker%-&takeAssignmentSessionLocator3&inprogress%3false ps Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Issued Balance Receiving Materials Unit Report Quantity Requisition Quantity Date Unit Price Amount Quantity Amount Number Number price May 1 250 $5 $1,250 21 180 $7 May 4 102 280 $4 May 10 27 120 May 21 115 170 May 27 b. Determine the materials inventory balance at the end of May. c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. Previous NextKnowledge Check 01 In the cost formula (Y = a +bX) that is used to estimate the total manufacturing overhead cost for a given period, the letter "a" refers to the estimated O total manufacturing overhead cost O total fixed manufacturing overhead cost O variable manufacturing overhead cost per unit of the allocation base O total amount of the allocation baseNumber 1 is Product A = 2.81 and Product B = 2.85 Number 2 is Product A = 23,733 and Product B = 29,104 Number 3 is Product A = 22.8 and Product B = 22.3 Number 5 is Product A = 15.5 and Product B = 15.1 Number 6 is NPT = B, PI = A, PP = A, IRR = A, SRR = A I need help with Number 4 and 6B Thank you
- Baden Company has gathered the following information. Units in beginning work in process 0 Units started into production 37,000 Units in ending work in process 7,000 Percent complete in ending work in process: Conversion costs Materials Costs incurred: Direct materials Direct labor Overhead 4 80 40 % 100 % $73,000 $61,100 $101,100Use the included information about Raw Materials Inventory (RM), Work in Process Inventory (WIP), Finished Goods Inventory (FG), and the Income Summary (IS). Determine the total conversion costs added. 1 2 3 4 5 6 7 1 00 RM B Bal T1 T2 T3 T4 E Bal 8 9 FG 10 B Bal 11 T1 12 T2 13 T3 14 T4 15 E Bal 2 Debits 4300 29 050 Debits 4800 45 592 3 Credits 28 000 Credits 33 500 4 5 WIP B Bal DM DL FOH CGM E Bal IS Rev CGS V Op Exp F Op Exp NIBT 6 Debits 8920 28 000 17 430 11 130 Debits 33 500 5130 7960 7 Credits 45 592 Credits 66 200Info from image "ACC PT1" can be applied to image "ACC PT2" and (b) below is ssociated with image "ACC PT2" (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answers and double click the box with the question mark to empty the box for a wrong answers. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply The predetermined overhead rate changed.unanswered The change in the actual manufacturing overhead cost directly resulted in a comparable change in the amount of underapplied (overapplied) manufacturing overhead.unanswered The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied.unanswered
- Required information Exercise 15-34 Determining Markup Percentage; Target ROI (LO 15-3) [The following information applies to the questions displayed below.] The following is cost and production data for the Wave Darter: Variable manufacturing cost Applied fixed manufacturing cost Absorption manufacturing cost Variable selling and administrative cost Allocated fixed selling and administrative cost Total cost Variable manufacturing cost Variable selling and administrative cost Total variable cost Exercise 15-34 Part 1 Based on planned monthly production of 41 units (or 492 units per year). t Rounded The target profit is $49,000, with planned sales equal to production. Per unit $ 370 220 590 55 100+ Markup percentage $745 $370 55 $425 Required: 1. Use the general formula for determining a markup percentage to compute the required markup percentage using variable manufacturing cost. (Round your percentage answer to 2 decimal places (i.e., .1234 should be entered as 12.34).) %Required: c. Prepare a journal entry to close off the balance in the manufacturing overhead account. +×÷&%*=[÷^×%×/×>#[%%&#>>@+]++>×ttempt%3D1347310&cmid%3D701917 ming services SQU Libraries SQU Portal Attendance English (en Which of the following is correct with resnect to closing out underapplied manufacturing overhead to Cost of Goods Sold versus closing it out to Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold? Select one: a. The balance in the Work-in-Process account after allocation will be higher if the underapplied overhead is closed out by allocating it to all appropriate accounts. b. The balance in the Work-in-Process account after allocation will be the same under either method. C. None of given ANSWER is correct. d. Operating income will be higher if all of the underapplied overhead is closed out to Cost of Goods Sold. X e. Cost of Goods Sold will be higher if the underapplied. overhead is closed out by allocatinog it to the inventory accounts as well as to Cost of Goods Sold. The corect
- What formula do we use in accounting to determine estimated total manufacturing overhead (MOH)? Group of answer choices Y= mX +b Y = a + bX (Estimated Total MOH/(Estimated Total Cost Driver) (Actual Total MOH)/(Actual Total Cost Driver) (Estimated Total MOHV(Actual Total Cost Driver)What formula do we use in accounting to determine estimated total manufacturing overhead (MOH)? Group of answer choices Y = mX +b Y = a+ bX (Estimated Total MOH/(Estimated Total Cost Driver) (Actual Total MOH)/(Actual Total Cost Driver) (Estimated Total MOH/(Actual Total Cost Driver)Marin, Inc. values its inventory at the lower-of-LIFO-cost-or-market. The following information is available from the company's inventory records as of December 31, 2020. Unit Replacement Estimated Selling Completion & Disposal Normal Profit Item Quantity Cost Cost/Unit Price/Unit Cost/Unit Margin/Unit X490 10,404 $ 12.75 $ 12.19 $ 14.28 $ 3.06 $ 3.47 X512 5,049 7.14 7.65 9.08 0.26 1.84 Х682 18,360 19.38 18.97 32.18 3.32 9.18 Z195 12,750 14.54 14.28 20.20 1.43 5.87 Z846 8,772 12.24 13.01 14.23 2.14 1.12