Selected information from the Blake Corporation accounting records for June follows. Materials Inventory 86,000 458,000 Work-In-Process Inventory Labor Finished Goods Inventory 288,000 833,000 вв (6/1) 310,000 вв (6/1) 413,000 EB (6/30) 510,000 830,000 Manufacturing Overhead Control 320,000 Applied Manufacturing Overhead 341,000 Cost of Goods Sold 320,000 21,000 21,000 320,000 Additional information for June follows: • Labor wage rate was $20 per hour. • During the month, sales revenue was $1,023,000, and selling and administrative costs were $233,000. • This company has no indirect materials or supplies. • The company applies manufacturing overhead on the basis of direct labor-hours. Required: a. What was the cost of direct materials purchased in June? b. What was the over- or underapplied manufacturing overhead for June? c. What was the manufacturing overhead application rate in June? HWhot 1luno?
Selected information from the Blake Corporation accounting records for June follows. Materials Inventory 86,000 458,000 Work-In-Process Inventory Labor Finished Goods Inventory 288,000 833,000 вв (6/1) 310,000 вв (6/1) 413,000 EB (6/30) 510,000 830,000 Manufacturing Overhead Control 320,000 Applied Manufacturing Overhead 341,000 Cost of Goods Sold 320,000 21,000 21,000 320,000 Additional information for June follows: • Labor wage rate was $20 per hour. • During the month, sales revenue was $1,023,000, and selling and administrative costs were $233,000. • This company has no indirect materials or supplies. • The company applies manufacturing overhead on the basis of direct labor-hours. Required: a. What was the cost of direct materials purchased in June? b. What was the over- or underapplied manufacturing overhead for June? c. What was the manufacturing overhead application rate in June? HWhot 1luno?
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 2SEB: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and...
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