Valdosta Company is working on its costing information for January.   Using normal costing, they use one overhead control account and charges overhead to production at 75% of direct labor cost.  The company does not formally close the account until the end of the year.   The beginning and ending inventories for the month of August are    August 1 August 31 Direct Materials $62,000 $67,000 Work in Process $171,000 $145,000 Finished Goods $78,000 $85,000 Production data for the month of August follows: Direct labor $250,000 Actual manufacturing overhead $195,500 Direct materials purchased $163,000 Transportation in $2,000     Valdosta Company's manufacturing overhead control balance for the month of August is   Group of answer choices $8,000 credit, overapplied $8,000 debit, underapplied $8,000 debit, overapplied $8,000 credit, underapplied

Job Costs At the end of April, Almerinda Company had completed Jobs 50 and 51. Job 50 is for 23,040 units, and Job 51 is for 26,000 units. The following data relate to these two jobs: On April 6, Almerinda Company purchased on account 60,000 units of raw materials at $12 per unit. On April 21, raw materials were requisitioned for production as follows: 25,000 units for Job 50 at $10 per unit and 27,000 units for Job 51 at $12 per unit. During April, Almerinda Company accumulated 20,000 hours of direct labor costs on Job 50 and 24,000 hours on Job 51. The total direct labor was incurred at a rate of $20.00 per direct labor hour for Job 50 and $22.00 per direct labor hour for Job 51. Almerinda Company estimates that total factory overhead costs will be $1,750,000 for the year. Direct labor hours are estimated to be 500,000. a. Determine the balance on the job cost sheets for Jobs 50 and 51 at the end of April. Job 50 Job 51 b. Determine the cost per unit for Jobs 50 and 51 at the end of…

Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $210,000 and incurred direct labor cost of $140,000. Overhead totaled $375,000 for the month. Information on inventories was as follows: September 1 September 30 Materials $120,000 $130,000 Work in process 80,000 90,000 Finished goods 70,000 65,000 Required: What was the cost of goods sold for September?

GrandSlam Incorporated incurred the following costs during March: Selling expenses Direct labor Manufacturing overhead, actual Interest expense Raw materials used Administrative expenses $ 156,300 280,000 41,900 163,800 497,000 116, 200 During the month, 19,200 units of product were manufactured and 11,100 units of product were sold. On March 1, GrandSlam carried no inventories. On March 31, there were no inventories for raw materials or work in process. Required: a. Calculate the cost of goods manufactured during March and the average cost per unit of product manufactured. b. Calculate the cost of goods sold during March. c. Calculate the difference between cost of goods manufactured and cost of goods sold. How will this amount be reported in the financial statements? d. Prepare a traditional (absorption) income statement for GrandSlam for the month of March. Assume that sales for the month was $1,047,000 and the company's effective income tax rate was 35%.