Posted on May 7, 2022
There is a baby boom
3) The following table summarizes the beginning and ending inventories of Decatur Manufacturing, Inc., for the month of March: Feb 28 Mar 31 Raw materials $36,300 $28, 300 Work In Process 71, 600 65,400 Finished Goods 49,200 44,700
Actual and applied manufacturing overhead costs for March totaled $190,100 and $193,300, respectively. Over/ under applied overhead is written off to cost of goods sold at the end of the year in December. Required: a. Calculate the cost of goods manufactured for March. b. Calculate the cost of goods sold for March.
Raw materials purchased $ 41,250 Direct labor ($13 per hour) 56,420 Manufacturing overhead (actual) 90,400 Selling expenses 31,990 Administrative expenses 14,160 Interest expense 6,039
Manufacturing overhead is applied on the basis of $17 per direct labor hour. Assume that over applied or under applied overhead is transferred to cost of goods sold only at the end of the year. During the month, 4,180 units of product were manufactured and 4,460 units of product were sold. On April 1 and April 30, Big Thunder Co. carried the following inventory balances:
April 1…… April 30 Raw materials $ 19,400 $ 17,500 Work in process 53,200 57,900 Finished goods 41,800 30,489 Prepare a statement of cost of goods manufactured for the month of April. (b) Calculate the average cost per unit of product manufactured. (Round your answer to 2 decimal places. ) Requirement 2: Calculate the cost of goods sold during April. (Do not round your intermediate calculations. (more…)