December 20, 2014

Homework Help: accounting

Posted by sally on Saturday, September 8, 2012 at 5:05pm.

Selected T-accounts for Rolm Company are given below for the just completed year:

Raw Materials Manufacturing Overhead
Bal. 1/1 31,000

Credits ?

Debits 390,000

Credits ?
Debits 420,000

Bal. 12/31 56,000

Work in Process Factory Wages Payable
Bal. 1/1 73,000

Credits 710,000

Debits 172,000

Bal. 1/1 14,000
Direct materials 329,000

Credits 176,000

Direct labor 114,000

Bal. 12/31 18,000
Overhead 450,000

Bal. 12/31 ?

Finished Goods Cost of Goods Sold
Bal. 1/1 50,000

Credits ?

Debits ?

Debits ?

Bal. 12/31 131,000

What was the cost of raw materials put into production during the year?

The cost of raw materials $

How much of the materials in (1) above consisted of indirect materials?

Indirect materials $

How much of the factory labor cost for the year consisted of indirect labor?

Indirect labor cost $

What was the cost of goods manufactured for the year?

Cost of goods manufactured $

What was the cost of goods sold for the year (before considering underapplied or overapplied overhead)?

Cost of goods sold $

If overhead is applied to production on the basis of direct materials cost, what predetermined rate was in effect during the year? (Round your answer to 2 decimal places.)

The predetermined overhead rate was % of direct materials cost

Was manufacturing overhead underapplied or overapplied? By how much? (Input the amount as a positive value.)

Manufacturing overhead was by $

Compute the ending balance in the Work in Process inventory account. Assume that this balance consists entirely of goods started during the year. If $32,400 of this balance is direct materials cost, how much of it is direct labor cost? Manufacturing overhead cost? (Round your predetermined overhead rate percentage and final answers to 2 decimal places.)

Ending balance in the work in process $
Direct labor cost $
Manufacturing overhead cost $

Answer this Question

First Name:
School Subject:

Related Questions

accounting - Post-closing trial balance What am I supposed to do when the ...
financial accounting - I am preparing an adjusted trial balance and I have ...
accounting - The following cost data relate to the manufacturing activities of ...
Fin&Acc - B3 Company is a manufacturing firm that uses job-order costing. The ...
accounting - Anzlyzing financial statement effects of accounting for bad debits ...
accounting - 1. Present entries to record the following summarized operations ...
Accounting 2 PLEASE HELP ME! - Cambridge Manufacturing Company applies ...
Accounting 2 - Cambridge Manufacturing Company applies manufacturing overhead on...
Accounting 2 - Cambridge Manufacturing Company applies manufacturing overhead on...
accounting - P20-2A For the year ended December 31, 2010, the job cost sheets ...