Business, 12.01.2021 17:40 020020

The following account balances at the beginning of January were selected from the general ledger of Crispy Chips Manufacturingâ€‹ Company: Work in process inventory $5,980 $0
Raw materials inventory $2,320 $28400
Finished goods inventory $14,340 $40500

Additionalâ€‹ data:

1. Actual manufacturing overhead for January amounted to $78,200
2. Total direct labor cost for January was $125,000
3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $120,000 of direct labor cost and $78,000 of manufacturing overhead costs.
4. The only job unfinished on January 31 was Job No.â€‹ 151, for which total direct labor charges were $3,200 (16 direct laborâ€‹ hours) and total direct material charges were $1,720.
5. Cost of direct materials placed in production during January totaled $62,250 There were no indirect material requisitions during January.
6. January 31 balance in raw materials inventory was $3,100
7. Finished goods inventory balance on January 31 was $17,420

Has manufacturing overhead been overallocated or underallocated and by what amount as of Januaryâ€‹ 31?

a. Overallocated by $200
b. Underallocated by $200
c. Underallocated by $3,250
d. Overallocated by $3,050

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 16:10

You are at a holiday dinner with your family. your relative makes the argument that the u.s. economy is resurgent and has recovered from the great recession of 2007 – 2009. economic growth, as measured by gdp, has been increasing from one quarter to the next. you beg to differ. how would you structure your argument with your relative? hint: you should think about two things, the accuracy of gdp measures, and whether gdp should be considered a comprehensive measure of a countries well-being.

Answers: 3

Answer

Business, 22.06.2019 01:00

In order to gauge public opinion about how to handle iran's growing nuclear program, a research group surveyed 1010 americans by telephone and asked them to rate the threat iran's nuclear program poses to the world on a scale of 1 to 10. describe the population, sample, population parameters, and sample statistics. identify the population in the given problem. choose the correct answer below.

Answers: 2

Answer

Business, 22.06.2019 02:30

Required information [the following information applies to the questions displayed below.] the following data is provided for garcon company and pepper company. garcon company pepper company beginning finished goods inventory $ 13,800 $ 18,850 beginning work in process inventory 16,700 20,700 beginning raw materials inventory 8,800 13,500 rental cost on factory equipment 28,250 26,650 direct labor 22,400 37,400 ending finished goods inventory 17,300 14,300 ending work in process inventory 23,200 19,400 ending raw materials inventory 5,900 9,600 factory utilities 11,250 15,000 factory supplies used 10,900 5,700 general and administrative expenses 32,500 44,500 indirect labor 2,500 9,880 repairsâ€”factory equipment 4,820 2,150 raw materials purchases 41,500 63,000 selling expenses 54,800 49,000 sales 238,530 317,510 cash 33,000 23,700 factory equipment, net 222,500 124,825 accounts receivable, net 13,400 23,950 required: 1. complete the table to find the cost of goods manufactured for both garcon company and pepper company for the year ended december 31, 2017. 2. complete the table to calculate the cost of goods sold for both garcon company and pepper company for the year ended december 31, 2017.

Answers: 2

Answer

Business, 22.06.2019 07:40

Alicia has a collision deductible of $500 and a bodily injury liability coverage limit of $50,000. she hits another driver and injures them severely. the case goes to trial and there is a verdict to compensate the injured person for $40,000 how much does she pay?

Answers: 1

Answer

You know the right answer?

The following account balances at the beginning of January were selected from the general ledger of...

Questions