ACCT 346 Week 3 Homework Assignment For more course tutorials visit
Raw materials inventory |
$ 28,000 |
Finished goods inventory |
$ 40,000 |
Additional data :
1 ) Actual manufacturing overhead for January amounted to $ 62,000 . 2 ) Total direct labor cost for January was $ 63,000 . 3 ) The predetermined manufacturing overhead rate is based on direct labor cost . The budget for the year called for $ 250,000 of direct labor cost and $ 350,000 of manufacturing overhead costs . 4 ) The only job unfinished on January 31 was Job No . 151 , for which total direct labor charges were $ 5,200 ( 800 direct labor hours ) and total direct material charges were $ 14,000 . 5 ) Cost of direct materials placed in production during January totaled $ 123,000 . There were no indirect material requisitions during January .
3 . Vintage Fun reproduces old-fashioned style roller skates and skateboards . The annual production and sales of roller skates is 950 units , while 1,750 skateboards are produced and sold . The company has traditionally used direct labor hours to allocate its overhead to products . Roller skates require 2.5 direct labor hours per unit , while skateboards require 1.25 direct labor hours per unit . The total estimated overhead for the period is $ 114,300 . The company is looking at the possibility of changing to an activity-based costing system for its products . If the company used an activity-based costing system , it would have the following three activity cost pools : -----------------------------------------------------------------------------
ACCT 346 Week 3 Homework Assignment For more course tutorials visit