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newconnect.mheducation.com # 1 ,, canvas myUCdavis xfinity WestVillage Job Link CalNet Localwiki Davis FA UC APP Cyro ASSIST WSHH giants espn RMP UCD YouTube Netflix Registrar Facebook Assignments: MGT 011B A01-A07, B01-B07 SQ 2018 Ch 3 Homework Help Save & Exlt Submit Saved Check my work Required information The foowing informetion applies to the questions displayed below Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were Part 7 of 1 as follows 0.58 points Raw naterials 60,500 Mork in process 20,800 Pinished goods 57,600 Sipped The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rote of S11.25 per direct labor-hour was based on ? cost formula that estimated $450,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year: a. Raw materials were purchased on account, $622,000. b. Raw materials use in production, $591,800. All of of the raw materials were used as direct materials c. The following costs were accrued for employee services: direct labor, $400,000; indirect labor $150,000; selling and d. Incurred various selling and administrative expenses (eg., advertising, sales travel costs, and finished goods e. Incurred varlous manufacturing overhead costs (e.g., depreclation, insurance, and utilites), $300,000. g. Jobs costing $1,360.750 to manufacture according to their job cost sheets were completed during the year administrative salaries, $280,000. warehousing). $400,000. Manufacturing ovehead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year h. Jobs were sold on account to customers during the year for a total of $3,330,000. The jobs cost $1,370,750 to manufacture according to their job cost sheets. 7. Whet is the ending balance in Work in Process? Work in Process Beg. Bal. End. Bal, Pre 7 8 915 of 17 Next>Explanation / Answer
7) Work in process Beg.bal 20,800 1,360,750 g. b. 591,800 c. 400,000 f. 461,250 End bal 113,100 8) total actual manufacturing overhead cost 450,000 answer indirect labor 150000 Various manfuacturing cost 300,000 total 450000 9) overapplied overhead 11,250 answer
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