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    Acccob3 HW3

    Uploaded by

    neovaldez
    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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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Acccob3 HW3

    Uploaded by

    neovaldez
    137 views6 pages
    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.

    Original Title

    ACCCOB3_HW3

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    © © All Rights Reserved

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    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.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    137 views6 pages

    Acccob3 HW3

    Uploaded by

    neovaldez
    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.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 6

    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

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