Mai Leah Vanessa Go

BA 203

Problem #24

A.

Date Explanations Debit Credit

April 30, 2010 Raw Material Inventory $204,000
Accounts payable $204,000
(To record purchase of raw materials)
WIP inventory job# 4263 163,800
WIP inventory job #4264 1,870
Manufacturing overhead control 12,460
Raw material Inventory 178,130
(To record issue of direct and indirenct materials)
WIP inventory job #4263 54,000
WIP inventory job #4264 1,800
Manufacturing overhead control 12,500
Wages payable 68,300
(To record April wages 3,600 hours to job#4263
and 120 hours to job #4264 at $15 per hr)

Manufacturing overhead control 68,700

Cash 34,700
Accumulated Depreciation 21,500
Various accounts 12,500
(To record actual overheads incurred)

WIP invetory job #4263 64,800

WIP inventory job #4264 2,160
Manufacturing overhead control 66,960
(To record applied overheads)

B. Beginning Raw Material Inventory + Purchases - Material Issued for jobs:

$4,300 + $204,00 - ($176,260 + $1870) = $30,170

C. Ending balance for Job #4263 $11,400 -$282,600 = -$271,200

Ending balance for job #4264 $11,400 - $5,830 = $5,570

D. Total Manufacturing costs = $282,600(job#4263) + $5830(job#4264) = $288,430

Cost per unit = Total Manufacturing costs / Total units produced
Cost per unit = $288,430 / 10,000 units = $28.84 per unit

E. Actual overhead costs $68,700 - $66,960 Applied overhead = $1,740 Overapplied

Mai Leah Vanessa Go
BA 203

Problem #47

A.
Cost of Direct Material Used = $56,000 - $56,000 = $0

B. the cost of raw material issued in April, it's the same as the cost of direct material used, which is $0

C. Raw Material Purchases - Cost of Direct Material Used

Ending Raw Material Inventory (april 30) = $9,600 + $56,000 -$0

Ending Raw Material Inventory (april 30) = $65,600

D. Actual Overhead Costs = Other non-material and non-labor overhead items + Indirect material used + Indirect facto

Actual Overhead Costs = $5,000 + $11,600 + $10,800

Actual Overhead Costs = $27,400

Applied Overhead Costs = (Actual DLH / Planned Annual DL hrs)*Expected Factory OH

Applied Overhead Costs = (8,800 / 100,800) * $302,400
Applied Overhead Costs = ($0.0873) * $302,400
Applied Overhead Costs ≈ $26,373.12

Underapplied or Overapplied Overhead = Actual Overhead Costs - Applied Overhead Costs

Underapplied or Overapplied Overhead = $27,400 - $26,373.12
Underapplied or Overapplied Overhead ≈ $1,026.88 overapplied

E. Cost of Goods Sold = $16,800 + $96,000 - $13,200

Cost of Goods Sold = $103,600
terial used + Indirect factory labor