The Row-On-Water Company (ROW) produces a line of non-motorized boats. ROW uses a normal-costing system and allocates manufacturing overhead using direct manufacturing labor cost. The following data are for 2020: (Click the icon to view the data.) Requirement 1. Calculate the manufacturing overhead allocation rate. Identify the formula and calculate the manufacturing overhead allocation rate. (Enter the result as a whole number.) Overhead allocation rate. Data table = HIIR - X Inventory balances on December 31, 2020 were as follows: (Click the icon to view the account balances.) Read the requirements. Data table Account Work in process Finished goods Cost of goods sold Requirements $ Ending balance 50,700 $ 245,050 549,250 2020 direct manufacturing labor cost in ending balance. - X 15,680 62,720 145,600
The Row-On-Water Company (ROW) produces a line of non-motorized boats. ROW uses a normal-costing system and allocates manufacturing overhead using direct manufacturing labor cost. The following data are for 2020: (Click the icon to view the data.) Requirement 1. Calculate the manufacturing overhead allocation rate. Identify the formula and calculate the manufacturing overhead allocation rate. (Enter the result as a whole number.) Overhead allocation rate. Data table = HIIR - X Inventory balances on December 31, 2020 were as follows: (Click the icon to view the account balances.) Read the requirements. Data table Account Work in process Finished goods Cost of goods sold Requirements $ Ending balance 50,700 $ 245,050 549,250 2020 direct manufacturing labor cost in ending balance. - X 15,680 62,720 145,600
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 4P: Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2....
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