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Cost Accounting 2 1
Cost Accounting 2 1
Problem 2
Problem 3
Regular rate 200 x 40 8,000.00
Overtime 200 x 1.5 x 8 2,400.00
10,400.00
Problem 4
2,015.00
487.00
487.00
4,900.00
24,611.00
24,611.00
2,058.00
498.00
498.00
5,120.00
75,026.00
75,026.00
46,250.00
19,460.00
8,237.00
4,920.00
1,400.00
2,240.00
9,488.00
93,952.00
93,952.00
10,360.00
33,400.00
10,360.00
10,400.00
10,400.00
QUIZ 2
Problem 1
Direct Materials Inventory, beg.
Add: Purchases 80,000.00
DM Available for use 80,000.00
Less: DM Inventory, end (given) 20,000.00
DM used 60,000.00
Page 5
QUIZ 2
Work unfinished
Direct Materials 2,000.00
Direct Labor 1,000.00
3,000.00
Page 6
QUIZ 2
Problem 2
2 Jounal entries
a Materials 33,000.00
Accounts Payable 33,000.00
Page 7
QUIZ 2
f
Production Cost 110,000.00
Mark up 50% 55,000.00
Sales 165,000.00
Problem 3
1 Job 823
Materials 32,500.00
Direct Labor 35,000.00
Factory Overhead 35,000.00
102,500.00
Job 751
Materials 59,000.00
Direct Labor 30,000.00
Factory Overhead 3,000.00
92,000.00
a Materials Account
Page 8
QUIZ 2
Less: Transferred to Work in Process 94,000.00
6,000.00
Add: Returned from WIP 2,500.00
8,500.00
Materials 94,000.00
Direct Labor 65,000.00
Factory Overhead 65,000.00
224,000.00
Returned to Materials inventory (2,500.00)
Job 823 transferred to finished goods (102,500.00)
WIP balance 119,000.00
Materials 91,500.00
Direct Labor 65,000.00
Factory Overhead 65,000.00
Manufacturing Cost 221,500.00
Less: Work in Process, end 119,000.00
Cost of goods available for sale 102,500.00
Less: Finished goods, end -
Cost of goods sold 102,500.00
Page 9
Problem 1
Problem 2
EOQ = Squaroot of ((2 x Demand per year x Cost per order)/ carrying cost)
2 x 60,000 x 900
1200
108,000,000
1,200.00
90,000.00
300 units
Problem 3
BALANCE
UNIT PRIC AMOUNT
125.00 125,000
125.00 75,000
140.00 84,000
159,000
140.00 49,000
145.00 29,000
78,000
140.00 14,000
145.00 29,000
43,000
d)
BALANCE
UNIT PRIC AMOUNT
125.00 125,000
125.00 75,000
132.50 159,000
132.50 46,375
137.05 75,375
137.05 41,114