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28 Sep 2019
Pirkl Corporation has providedthe following data for the month of March:
Inventories Beginning Ending Raw materials $ 24,000 $ 39,000 Work in process $ 13,000 $ 20,000 Finished goods $ 46,000 $ 35,000
Additional Information:
Raw materialspurchases $ 78,000 Direct laborcost $ 84,000 Manufacturingoverhead cost incurred $ 43,000 Indirect materialsincluded in manufacturing overhead cost incurred $ 6,400 Manufacturingoverhead cost applied to work in process $ 44,600
Required: Prepare a Schedule ofCost of Goods Manufactured and a Schedule of Cost of Goods Sold.(Input all amounts as positive values. Omit the "$" sign inyour response.)
Schedule of Cost of Goods Manufactured Directmaterials: (Click to select)Beginning work inprocess inventoryBeginning finished goods inventoryEnding rawmaterials inventoryBeginning materials inventoryEnding work inprocess inventory $ (Click to select)DeductAdd : (Clickto select)Ending work in process inventoryBeginning work in processinventoryFinished goods inventory, beginningPurchases of rawmaterialsRaw materials inventory, ending Raw materials available for use (Click to select)DeductAdd : (Clickto select)Ending work in process inventoryPurchases of rawmaterialsBeginning materials inventoryEnding raw materialsinventoryBeginning work in process inventory Raw materials used in production (Click to select)DeductAdd : (Clickto select)Beginning work in process inventoryindirect materialsincluded in manufacturing overhead incurredRaw materials inventory,endingEnding work in process inventoryRaw materials inventory,beginning (Click toselect)Direct laborDirect materialsIndirect materialsIndirectlaborPurchase of raw materials $ (Click to select)Rawmaterials inventory, endingEnding work in process inventoryRawmaterials inventory, beginningDirect laborPurchases of rawmaterials (Click toselect)Manufacturing overhead applied to work in processinventoryBeginning work in process inventoryPurchases of rawmaterialsRaw materials inventory, beginningRaw materials inventory,ending Total manufacturingcosts (Click toselect)AddDeduct : (Click to select)Raw materials inventory,beginningRaw materials inventory, endingPurchases of rawmaterialsEnding work in process inventoryBeginning work in processinventory (Click toselect)DeductAdd : (Click to select)Beginning work in processinventoryRaw materials inventory, beginningRaw materials inventory,endingPurchases of raw materialsEnding work in processinventory Cost of goodsmanufactured $
Schedule of Cost of Goods Sold (Click toselect)Cost of goods manufacturedCost of goods available forsaleFinished goods inventory, endingOverapplied overheadFinishedgoods inventory, beginning $ (Click toselect)DeductAdd : (Click to select)Unadjusted cost of goodssoldOverapplied overheadCost of goods manufacturedCost of goodsavailable for saleUnderapplied overhead (Click toselect)Unadjusted cost of goods soldCost of goods available forsaleCost of goods manufacturedFinished goods inventory,beginningFinished goods inventory, ending (Click toselect)AddDeduct : (Click to select)Overapplied overheadCost ofgoods manufacturedEnding finished goods inventoryUnderappliedoverheadCost of goods available for sale (Click toselect)Finished goods inventory, beginningUnderappliedoverheadFinished goods inventory, endingUnadjusted cost of goodssoldCost of goods manufactured (Click toselect)AddDeduct : (Click to select)Overapplied overheadCost ofgoods manufacturedUnderapplied overheadFinished goods inventory,endingCost of goods available for sale Adjusted cost ofgoods sold $
| Pirkl Corporation has providedthe following data for the month of March: |
| Inventories | Beginning | Ending | ||
| Raw materials | $ | 24,000 | $ | 39,000 |
| Work in process | $ | 13,000 | $ | 20,000 |
| Finished goods | $ | 46,000 | $ | 35,000 |
Additional Information:
| Raw materialspurchases | $ | 78,000 |
| Direct laborcost | $ | 84,000 |
| Manufacturingoverhead cost incurred | $ | 43,000 |
| Indirect materialsincluded in manufacturing overhead cost incurred | $ | 6,400 |
| Manufacturingoverhead cost applied to work in process | $ | 44,600 |
| Required: | |
| Prepare a Schedule ofCost of Goods Manufactured and a Schedule of Cost of Goods Sold.(Input all amounts as positive values. Omit the "$" sign inyour response.) |
| Schedule of Cost of Goods Manufactured | ||
| Directmaterials: | ||
| (Click to select)Beginning work inprocess inventoryBeginning finished goods inventoryEnding rawmaterials inventoryBeginning materials inventoryEnding work inprocess inventory | $ | |
| (Click to select)DeductAdd : (Clickto select)Ending work in process inventoryBeginning work in processinventoryFinished goods inventory, beginningPurchases of rawmaterialsRaw materials inventory, ending | ||
| Raw materials available for use | ||
| (Click to select)DeductAdd : (Clickto select)Ending work in process inventoryPurchases of rawmaterialsBeginning materials inventoryEnding raw materialsinventoryBeginning work in process inventory | ||
| Raw materials used in production | ||
| (Click to select)DeductAdd : (Clickto select)Beginning work in process inventoryindirect materialsincluded in manufacturing overhead incurredRaw materials inventory,endingEnding work in process inventoryRaw materials inventory,beginning | ||
| (Click toselect)Direct laborDirect materialsIndirect materialsIndirectlaborPurchase of raw materials | $ | |
| (Click to select)Rawmaterials inventory, endingEnding work in process inventoryRawmaterials inventory, beginningDirect laborPurchases of rawmaterials | ||
| (Click toselect)Manufacturing overhead applied to work in processinventoryBeginning work in process inventoryPurchases of rawmaterialsRaw materials inventory, beginningRaw materials inventory,ending | ||
| Total manufacturingcosts | ||
| (Click toselect)AddDeduct : (Click to select)Raw materials inventory,beginningRaw materials inventory, endingPurchases of rawmaterialsEnding work in process inventoryBeginning work in processinventory | ||
| (Click toselect)DeductAdd : (Click to select)Beginning work in processinventoryRaw materials inventory, beginningRaw materials inventory,endingPurchases of raw materialsEnding work in processinventory | ||
| Cost of goodsmanufactured | $ | |
| Schedule of Cost of Goods Sold | |
| (Click toselect)Cost of goods manufacturedCost of goods available forsaleFinished goods inventory, endingOverapplied overheadFinishedgoods inventory, beginning | $ |
| (Click toselect)DeductAdd : (Click to select)Unadjusted cost of goodssoldOverapplied overheadCost of goods manufacturedCost of goodsavailable for saleUnderapplied overhead | |
| (Click toselect)Unadjusted cost of goods soldCost of goods available forsaleCost of goods manufacturedFinished goods inventory,beginningFinished goods inventory, ending | |
| (Click toselect)AddDeduct : (Click to select)Overapplied overheadCost ofgoods manufacturedEnding finished goods inventoryUnderappliedoverheadCost of goods available for sale | |
| (Click toselect)Finished goods inventory, beginningUnderappliedoverheadFinished goods inventory, endingUnadjusted cost of goodssoldCost of goods manufactured | |
| (Click toselect)AddDeduct : (Click to select)Overapplied overheadCost ofgoods manufacturedUnderapplied overheadFinished goods inventory,endingCost of goods available for sale | |
| Adjusted cost ofgoods sold | $ |
Reid WolffLv2
28 Sep 2019
Related questions
| Pirkl Corporation has providedthe following data for the month of March: |
| Inventories | Beginning | Ending | ||
| Raw materials | $ | 22,000 | $ | 40,000 |
| Work in process | $ | 14,000 | $ | 22,000 |
| Finished goods | $ | 41,000 | $ | 35,000 |
Additional Information:
| Raw materialspurchases | $ | 74,000 |
| Direct laborcost | $ | 82,000 |
| Manufacturingoverhead cost incurred | $ | 42,500 |
| Indirect materialsincluded in manufacturing overhead cost incurred | $ | 6,700 |
| Manufacturingoverhead cost applied to work in process | $ | 44,100 |
| Required: | |
| Prepare a Schedule ofCost of Goods Manufactured and a Schedule of Cost of Goods Sold.(Input all amounts as positive values. Omit the "$" sign inyour response.) |
The following cost data relate to the manufacturing activitiesof Chang Company during the just completed year: |
| Manufacturingoverhead costs incurred: | ||
| Indirect materials | $ | 15,800 |
| Indirect labor | 138,000 | |
| Property taxes,factory | 8,800 | |
| Utilities, factory | 78,000 | |
| Depreciation,factory | 150,600 | |
| Insurance, factory | 10,800 | |
| Total actualmanufacturing overhead costs incurred | $ | 402,000 |
| Other costsincurred: | ||
| Purchases of rawmaterials (both direct and indirect) | $ | 408,000 |
| Direct labor cost | $ | 68,000 |
| Inventories: | ||
| Raw materials,beginning | $ | 20,800 |
| Raw materials,ending | $ | 30,800 |
| Work in process,beginning | $ | 40,800 |
| Work in process,ending | $ | 70,800 |
The company uses a predetermined overhead rate to apply overheadcost to jobs. The rate for the year was $20 per machine-hour. Atotal of 20,500 machine-hours was recorded for the year. |
| 1.Compute the amount of underapplied or overapplied overheadcost for the year.
|
