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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Oct-2001 - Nov-2016

Category > Accounting Posted 12 Aug 2017 My Price 14.00

Sweeten Company

I've worked on this for hours now. Where ever I left a "?" is a number I am looking for. You can explain how you got it if you like because I am really wanting to learn this but if not thats fine. I have figured everything else out on this problem. Just can't seem to piece it together. Thanks in advance, I really do appreciate it.

 

Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March"Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March):

 

     
Estimated total fixed manufacturing overhead $ 10,000
Estimated variable manufacturing overhead per direct labor-hour $ 1.00
Estimated total direct labor-hours to be worked   2,000
Total actual manufacturing overhead costs incurred $ 12,500

 

  Job P Job Q
Direct materials $ 13,000 $ 8,000
Direct labor cost $ 21,000 $ 7,500
Actual direct labor-hours worked   1,400   500

 

Required:

Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Prepare a schedule of cost of goods manufactured. (Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required.)

 

Schedule of Cost of Goods Manufactured
Direct materials:    
Raw materials inventory, beginning 0
Add: Purchase of raw materials ?		    
     
     
Total raw materials available ?
Deduct: Raw Materials inventory, ending 1000		    
     
     
Raw materials used in production ?
Direct Labor 28,500
Manufacturing overhead applied to work in process inventory 11,400		    
     
     
     
Total manufacturing costs ?    
Add: Beginning work in process inventory 0
Total of manfacturing cost + Beginning work in process inventory (0+ Total Manufactring)
Deduct Ending work in process inventory ?
Cost of goods manufactured ?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Aug 2017 12:08 AM My Price 14.00

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