[me rorrowmg mrormanon applies to me quesrrons displayed oero W._/ Bunnell Corporation is a manufacturer that usesjob-order costing. On January 1, the company’s inventory balances
were as follows: Raw materials 23 66,000
Work in process $ 33,600
Finished goods S 38,400 The company applies overhead cost tojobs on the basis of direct labor-hours. For the current year, the company’s
predetermined overhead rate of $13.50 per direct labor-hour was based on a cost formula that estimated $540,000 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, $684,000. b. Raw materials use in production, $646,400. All of ofthe raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $490,000; indirect labor, $150,000; selling
and administrative salaries, $319,000. d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods
warehousing), $423,000. e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $390,000. f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on alljobs during the year. Jobs costing $1,623,300 to manufacture according to theirjob cost sheets were completed during the year. Jobs were sold on account to customers during the year for a total of $3,547,500. Thejobs cost $1,633,300 to manufacture according to theirjob cost sheets. .3"?

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Status NEW Posted 01 Jun 2017 07:06 AM My Price 15.00

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