Chapter 03 – Job-Order Costing
148. During August, Allee Corporation incurred $64,000 of actual Manufacturing Overhead
costs. During the same period, the Manufacturing Overhead applied to Work in Process was
$66,000.
Required:
Prepare journal entries to record the incurrence of manufacturing overhead and the application
of manufacturing overhead to Work in Process.
Chapter 03 – Job-Order Costing
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149. The following cost data relate to the manufacturing activities of Newberry Company
during the just completed year:
The company uses a predetermined overhead rate to apply manufacturing overhead cost to
production. The predetermined overhead rate for the year was $15 per machine-hour. A total
of 23,000 machine-hours were recorded for the year.
Required:
a. Compute the amount of underapplied or overapplied manufacturing overhead cost for the
year.
b. Prepare a Schedule of Cost of Goods Manufactured for the year.
Chapter 03 – Job-Order Costing
150. Job 434 was recently completed. The following data have been recorded on its job cost
sheet:
The company applies manufacturing overhead on the basis of machine-hours. The
predetermined overhead rate is $12 per machine-hour.
Required:
Compute the unit product cost that would appear on the job cost sheet for this job.
Chapter 03 – Job-Order Costing
151. Job 599 was recently completed. The following data have been recorded on its job cost
sheet:
The company applies manufacturing overhead on the basis of direct labor-hours. The
predetermined overhead rate is $20 per direct labor-hour.
Required:
Compute the unit product cost that would appear on the job cost sheet for this job.
Chapter 03 – Job-Order Costing
152. Shapiro Corporation has provided the following data for the most recent month:
Required:
Prepare T-accounts for Raw Materials, Work in Process, Finished Goods, Manufacturing
Overhead, and Cost of Goods Sold. Record the beginning balances and each of the
transactions listed above. Finally, determine the ending balances.
Chapter 03 – Job-Order Costing
Chapter 03 – Job-Order Costing
153. Goodenough Inc. has provided the following data for August:
Required:
Prepare T-accounts for Raw Materials, Work in Process, Finished Goods, and Manufacturing
Overhead, and Cost of Goods Sold. Record the beginning balances and each of the
transactions listed above. Finally, determine the ending balances.
Chapter 03 – Job-Order Costing
Chapter 03 – Job-Order Costing
154. During September, Paliotta Corporation recorded the following:
Required:
Prepare T-accounts for Raw Materials, Work in Process, Finished Goods, and Manufacturing
Overhead, and Cost of Goods Sold. Record the beginning balances and each of the
transactions listed above. Finally, determine the ending balances.
Chapter 03 – Job-Order Costing
Chapter 03 – Job-Order Costing
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155. Hirschman Corporation has provided the following data for the month of April:
Required:
Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold in
good form.
Chapter 03 – Job-Order Costing
156. Straley Inc. has provided the following data for the month of February. There were no
beginning inventories; consequently, the direct materials, direct labor, and manufacturing
overhead applied listed below are all for the current month.
Manufacturing overhead for the month was overapplied by $3,000.
The company allocates any underapplied or overapplied manufacturing overhead among work
in process, finished goods, and cost of goods sold at the end of the month on the basis of the
overhead applied during the month in those accounts.
Required:
Provide the journal entry that would record the allocation of underapplied or overapplied
among work in process, finished goods, and cost of goods sold.
Chapter 03 – Job-Order Costing
157. Alvardo Inc. has provided the following data for the month of November. There were no
beginning inventories; consequently, the direct materials, direct labor, and manufacturing
overhead applied listed below are all for the current month.
Manufacturing overhead for the month was underapplied by $6,000.
The company allocates any underapplied or overapplied manufacturing overhead among work
in process, finished goods, and cost of goods sold at the end of the month on the basis of the
overhead applied during the month in those accounts.
Required:
Determine the cost of work in process, finished goods, and cost of goods sold AFTER
allocation of the underapplied or overapplied manufacturing overhead for the period.