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Chapter 17: Q9SE-a (page 940)

Comparing actual to allocated overhead

Columbus Enterprises reports the following information at December 31, 2018:

Manufacturing overhead

3,500

50,600

19,000

34,500

Requirements

1. What is the actual manufacturing overhead of Columbus Enterprises?

Short Answer

Expert verified

The actual manufacturing overhead of Columbus enterprises is $57,000

Step by step solution

01

Manufacturing overhead

Manufacturing overhead means the sum total of all the indirect expenses incurred by an organization for producing the products.

02

Actual manufacturing overheads

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Most popular questions from this chapter

June production generated the following activity in Bentley Chassis Company鈥檚 Work-in-Process Inventory account:

June 1 balance

\(36,000

Direct materials used

32,000

Direct labor assigned to jobs

40,000

Manufacturing overhead allocated to jobs

28,000

Additionally, Bentley Chassis has completed Jobs 142 and 143, with total costs of\)37,000 and $48,000, respectively.

Requirements

2. Open a T-account for Work-in-Process Inventory. Post the journal entry made in Requirement 1. Compute the ending balance in the Work-in-Process Inventoryaccount on June 30.

June production generated the following activity in Bentley Chassis Company鈥檚 Work-in-Process Inventory account:

June 1 balance

\(36,000

Direct materials used

32,000

Direct labor assigned to jobs

40,000

Manufacturing overhead allocated to jobs

28,000

Additionally, Bentley Chassis has completed Jobs 142 and 143, with total costs of

\)37,000 and \(48,000, respectively.

Requirements

3. Prepare the journal entry to record the sale on account of Job 143 for \)63,000.

Also, prepare the journal entry to record Cost of Goods Sold for Job 143.

Distinguishing between job order costing and process costing

Would the following companies most likely use job order costing or process costing?

d. A professional service firm

Following is a list of cost system characteristics and sample companies. Match each to either job order costing or process costing.

f. A company that assembles electronic parts and software to manufacture millions of portable media players.

Distinguishing between job order costing and process costing

Would the following companies most likely use job order costing or process costing?

g. A cell phone manufacturer

See all solutions

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