David systems manufactures automated test systems that

Reference no: EM13581599

David Systems manufactures automated test systems that perform quality inspections during and at the completion of the manufacturing process. As most manufacturing processes are unique, David's test equipment is designed to customer specifications, and each system has a selling price in excess of $300,000. The company uses a job-order cost system based on the full absorption of actual costs and applies overhead on the basis of machine hours using a predetermined overhead rate. For the fiscal year ended November 30 budgeted manufacturing overhead was $1,960,000, and the expected activity level was 98,000 machine hours. Data regarding several jobs at David are presented below.
By the end of November all jobs but RX-115 were completed, and all completed jobs had been delivered to customers with the exception of SL-205.

Balance 10/31 Direct Materials Direct Labor Machine Hours

Job No.

XJ-107 118,600 4000 8400 150
ST-211 121,450 2500 12,160 300
XD-108 21,800 86,400 36,650 3100
SL-205 34,350 71,800 32,175 2700
RX-115 18,990 21,845 1400

Required:
(a) Determine the balance in the Finished Goods Inventory on November 30.
(b) Compute the cost of goods manufactured for November.
(c) Compute the Cost of Goods Sold for November.
(d) Determine the balance in Work-In-Process Inventory on November 30.

Reference no: EM13581599

Questions Cloud

Harrington company is a us-based company that prepares its : a. harrington company is a u.s.-based company that prepares its consoli- dated financial statements in accordance with

Giraldi company has identified that the cost of a new : 1 net annual cash flow can be estimated byadding advertising expense to net income. deducting credit purchases from net

You have just been hired as a management trainee by cravat : you have just been hired as a management trainee by cravat sales company a nationwide distributor of a designers silk

The jones manufacturing company produces a single product : the jones manufacturing company produces a single product in a single processing department. the material is added when

David systems manufactures automated test systems that : david systems manufactures automated test systems that perform quality inspections during and at the completion of the

The total variance is 35000 the total materials variance is : the total variance is 35000. the total materials variance is 14000. the total labor variance is twice the total

U2022 a discussion of the economic factors that you believe : on january 1 2009 carlin corporation issued 2400000 of 5-year 8 bonds at 95 the bonds pay interest semiannually on july

Assume you are setting standard materials costs for a pizza : assume you are setting standard materials costs for a pizza restaurant.use the example of a medium sized cheese pizza.

Summit has learned that a competitor plans to introduce a : . susummit products inc. is interested in producing and selling an improved widget. market research indicates that

User Account

All Pages