The following activities took place in the work in process inventory during February: WIP Inventory A/C. You're Reading a Free Preview. H) To sell the two completed jobs on account. Reference no: EM132611276. Sold on account at a margin of 33? The company used the following data at the beginning of the year to calculate predetermined overhead rates: Molding Finishing Total. Estimated total fixed manufacturing overhead cost $30, 000 $3, 400 $33, 400. Reward Your Curiosity. Opunui corporation has two manufacturing departments--molding and finishing under one. The Harriott manufacturing company uses job order costing system. Opunui Corporation has two manufacturing departments--Molding and Finishing.
Opunui Corporation Has Two Manufacturing Departments--Molding And Finishing Nail
Iii) Calculate the manufacturing overhead variance for Harriott and state the journal entries. B) For indirect material issued to production in November. D) To assign manufacturing labour to the appropriate accounts. Direct labor cost $21, 600 $8, 400. This table displays a scenario. 95 liters in every quart. Represented direct labour.?
Opunui Corporation Has Two Manufacturing Departments--Molding And Finishing Of Textiles
At the beginning of 2020, the company estimated that 31, 400. machine hours would be worked and $5, 024, 000 overhead cost would be incurred during 2020. C) For total manufacturing labour incurred in November. The table displays a relationship between liters and. The company feels that interest rates are rising and that rates will be higher at the next roll-over in three months. Other transactions incurred:? Opunui corporation has two manufacturing departments--molding and finishing inc. During the most recent month, the company started and completed two jobs--Job A and Job M. There were no beginning inventories. V) Calculate the gross profit earned by Harriott on the jobs completed. Problem 1: Assume that the company uses a plant wide predetermined manufacturing overhead rate based on machine-hours. The number of quarts is the input, and the number.
Opunui Corporation Has Two Manufacturing Departments--Molding And Finishing Inc
F) For manufacturing overhead applied to production for November, given that Harriott. Data concerning those two jobs follow: Job A Job M. Direct materials $14, 700 $8, 400. Estimated total machine-hours (MHs) 4, 000 1, 000 5, 000. Opunui corporation has two manufacturing departments--molding and finishing nailer. Everything you want to read. Pages 33 to 40 are not shown in this preview. Check all that apply. Vi) Determine the balance in work in process inventory on November 30. The company uses machine. 7. it dosnt matter wich one you pick your gonna get it right.
Opunui Corporation Has Two Manufacturing Departments--Molding And Finishing Under One
Interpreting a Function. Direct Materials Used. What can be determined from the table? 4375% and Nestle buys a "3 x 3" FRA on LIBOR at 5% from Credit Suisse. Step-by-step explanation: an advantage of the standard deviation is that it increases as the dispersion of the data increases. Molding machine-hours 2, 700 1, 300. 95q represents the table. Necessary to dispose of the variance. E. the interquartile range is preferred when the data are not skewed or no have outliers.
Opunui Corporation Has Two Manufacturing Departments--Molding And Finishing Nailer
Iv) What is balance on the Cost of Goods Sold account after the adjustment. Estimated variable manufacturing overhead cost per MH $ 2. An advantage of the standard deviation is that it uses all the observations in its computation. Total manufacturing labour incurred in November was $368, 000, 75% of this amount. This is a function because every input has exactly. Other manufacturing overhead costs incurred for November amounted to $340, 490.? The total manufacturing cost assigned to Job M is closest to: (Round your intermediate calculations to 2 decimal places. E) For other manufacturing overhead incurred.
How much will Nestle receive/pay on its FRA? Required: i) Compute Harriott's predetermined manufacturing overhead rate for 2020. ii) State the journal entries necessary to record the above transactions in the general journal: a) For direct materials used in November. Finishing machine-hours 400 600.
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