- Stangl Incorporated Has Provided The Following Data For The Month Of September There Were No Beginning Inventories Con 1 (199.11 KiB) Viewed 11 times
- Stangl Incorporated Has Provided The Following Data For The Month Of September There Were No Beginning Inventories Con 2 (152.82 KiB) Viewed 11 times
Stangl Incorporated has provided the following data for the month of September. There were no beginning inventories, consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Direct materials Direct labor Manufacturing overhead applied Total Work In Process $ 1,600 5,400 4,082 $ 11,082 Work in process Finished goods Cost of goods sold Finished Goods $ 7,530 17,790 9,420 $ 34,740 Allocation of Underapplied/Overapplied Overhead Cost of Goods Sold $ 14,550 34,530 17,898 $ 66,978 Manufacturing overhead for the month was underapplied by $4,200. The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts. Total $ 23,680 57,720 31,400 $ 112,800 Required: Determine the cost of work in process, finished goods, and cost of goods sold AFTER allocation of the underapplied or overapplied overhead for the period. K
Harnett Corporation has two manufacturing departments-Molding and Assembly. The company used the following data at the beginning of the period to calculate predetermined overhead rates: Estimated total machine-hours (MHS) 6,000 Estimated total fixed manufacturing overhead cost $43,800 $ 2.50 Estimated variable manufacturing overhead cost per MH During the period, the company started and completed two jobs-Job E and Job M. Data concerning those two jobs follow: Direct materials. Direct labor cost. Molding machine-hours Assembly machine-hours a. Predetermined overhead rate b. Manufacturing overhead applied c. Manufacturing cost. d. Selling price e. Molding predetermined overhead rate f. Assembly predetermined overhead rate g. Manufacturing overhead applied job E h. Selling price for job E $ $ Job E $ 13,700 $ S S 20,800 2,500 2,500 Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate that overhead rate. (Round your answer to 2 decimal places.) b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job E. (Do not round intermediate calculations.) c. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job E. (Do not round intermediate calculations.) d. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 20% on manufacturing cost to establish selling prices. Calculate the selling price for Job E. (Do not round intermediate calculations.) e. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. What is the departmental predetermined overhead rate in the Molding department? (Round your answer to 2 decimal places.) f. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. What is the departmental predetermined overhead rate in the Assembly department? (Round your answer to 2 decimal places.) g. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. How much manufacturing overhead will be applied to Job E? (Do not round intermediate calculations.) h. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 20% on manufacturing cost to establish selling prices. Calculate the selling price for Job E. (Do not round intermediate calculations.) 10.04 per MH 50,200 105,500 126,600 Job M $ 7,700 $7,600 per MH per MH Molding 3,500 1,500 Assembly 4,000 $ 21,600 $5.00 Total 10,000 $ 65,400