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Acccob3 HW3

The document outlines accounting entries for manufacturing overhead and cost of goods sold calculations. It includes entries for direct labor costs, raw materials, work in process, finished goods, and cost of goods manufactured and sold. The document also provides manufacturing overhead amounts incurred, applied, and various account balances related to costing.

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neovaldez
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1K views6 pages

Acccob3 HW3

The document outlines accounting entries for manufacturing overhead and cost of goods sold calculations. It includes entries for direct labor costs, raw materials, work in process, finished goods, and cost of goods manufactured and sold. The document also provides manufacturing overhead amounts incurred, applied, and various account balances related to costing.

Uploaded by

neovaldez
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
  • Required 1: Calculating direct labor costs, hours, and manufacturing overhead.
  • Required 2: Analyzing manufacturing overhead costs including applied costs, inventory accounting, and goods manufactured.
  • Required 3: Detailing the portion of jobs included in the cost of goods sold and finished goods inventory.
  • Calculations and Data: Includes detailed numeric data and calculations relevant to the tasks described in prior sections.

Required 1 Direct Labor Cost

Direct Labor Hours

Manufacturing Overhead
Direct Labor hours

Required 2

Direct Labor

Required 1 Beginning Work in process inventory


Direct Materials:
Beginning Raw Materials Inventory
Add: Purchases of Raw Materials
Total Raw Materials Available
Less: Indirect Materials Inventory
Raw Materials Used in Production
Less: Indirect materials used in production
Direct materials used in production
Direct labor
Manufacturing overhead

Total manufacturing costs added in production


Total manufacturing costs to account for
Less: ending work in process inventory
Cost of goods manufactured

Required 2 Beginning finished goods inventory


Add: cost of goods manufactured
Cost of goods available for sale
Less: Ending finished foods inventory
Unadjusted cost of goods sold
Add: Underapplied overhead
Adjusted cost of goods sold
Required 1 Actual Manufacturing overhead costs incurred for the year
Overhead cost applied to work in process for the year
Cost of goods manufactured for the year
cost of goods sold for the year

Required 2 Costs of goods sold


Manufacturing overhead

Required 3 Work in process


finished goods
cost of goods sold
Manufacturing overhead

Required 1 Raw material


accounts payable

work in process
manufacturing overhead
raw material

work in process
manufacturing overhead
wages and salaries payable

manufacturing overhead
accumulated deprciation

manufacturing overhead
accounts payable

work in process
manufacturing overhead

Manufacturing overhead
Required 2 B
C
D
E
Work in process
B
C
F
Required 3 Finished goods
work in process

Required 3 Portion of job included in cost of goods sold


345000
15
23000

184000
23000
8

54500
15
817500

54500
8
436000

1533500
817500
436000
280000

56000

12000
30000
42000
-18000
24000
5000
19000
58000
87000

164000
220000
-65000
155000

35000
155000
190000
42000
1480000
4000
152000
70000
70000

3500
10500
56000
70000

325000
325000

232000
58000
290000

60000
120000
180000

75000
75000

62000
62000

300000
300000

Debit Credit
58000 F 300000
120000
75000
62000

58000
60000
300000
592000
592000

370000

Required 1 Direct Labor Cost Direct Labor Hours Manufacturing Overhead Direct Labor hours Required 2 Direct Labor Required 1
Required 1 Actual Manufacturing overhead costs incurred for the year Overhead cost applied to work in process for the year Co
Required 3 Finished goods work in process Required 3 Portion of job included in cost of goods sold
345000 15 23000 184000 23000 8 54500 15 817500 54500 8 436000 1533500 817500 436000 280000 56000 12000 30000 42000 -18000 240
70000 70000 3500 10500 56000 70000 325000 325000 232000 58000 290000 60000 120000 180000 75000 75000 62000 62000 300000 30000
592000 592000 370000

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