Chapter 4 Class Activity 1. Use the following Manufacturing Overhead T-Account and the other account...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Chapter 4 Class Activity 1. Use the following Manufacturing Overhead T-Account and the other account information to answer the following questions: MOH 24.000 26,000 2,000 The following detailed information is already included in the MOH account shown above (where applicable) $ 37,000 5,000 90,000 35,000 27,000 DM purchased Indirect material COGS DM used Direct labor Beg FG Corp. office depr. Indirect labor Beginning WIP Factory depr. Ending WIP Ending FG 7,000 15,000 100,000 4,000 37,000 61,000 a.What is the total manufacturing cost for the period (the $ amount)? b.What is the cost of goods manufactured (the $ amount)? c.Explain the meaning of "inventoriable costs." d. Assume that any over or under applied manufacturing overhead is insignificant. Show the journal entry necessary to dispose of the balance in the overhead account. e.. Assume that any over or under applied manufacturing overhead is considered significant, or material. Show the journal entry necessary to dispose of the balance in the overhead account. Round decimals two places
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
