Manufacturing overhead to cost of goods sold

Assignment Help Accounting Basics

Reference no: EM13151884

Madtack Company's beginning and ending inventories for the month of November were as follows:

November 1 November 30
Direct Materials $67,500 $60,900
Work in Process $145,000 $167,000
Finished Goods $85,900 $76,800

Production data for month follow:

Direct labor cost incurred $214,000
Actual manufacturing overhead cost incurred $130,000
Direct materials purchases $165,100

Madtack applies manufacturing overhead cost to jobs at the rate of 55% of direct labor cost incurred. The company does not close underapplied or overapplied manufacturing overhead to Cost of Goods Sold until the end of the year.

Reference no: EM13151884

Questions Cloud

What do know about behavior of sample mean : What do we know about the behavior of the sample mean ( X ) in this setting? B) If the sociologist decides to scale down his study and draw a sample of n =10.

Determine the capitalized cost of the facility : At an interest rate of 8%, determine the capitalized cost of the facility, assuming that it will be used for an indefinite period.

How many grams of total blood cholesterol body contain : An individual suffering from a high cholesterol level in her blood has 241 mg of cholesterol per 100 { mL} of blood. If the total blood volume of the individual is 5.1 L, how many grams of total blood cholesterol does the individual's body contain..

Create a plausible explanation for these traits : You find approximately similar results when crossing blue hens and white roosters. Using allele symbols, create a plausible explanation for these traits.

Manufacturing overhead to cost of goods sold : Madtack applies manufacturing overhead cost to jobs at the rate of 55% of direct labor cost incurred. The company does not close underapplied or overapplied manufacturing overhead to Cost of Goods Sold until the end of the year.

Find a symmetric nash equilibrium in mixed strategies : The payoff to a company that enters is its gross profit minus its entry cost, while the payoff to a company that does not enter is 60. Find a symmetric Nash equilibrium in mixed strategies.

Explain about winston churchill or neville chamberlain : Today, around the world, Churchill"s name is revered. There are Winston Churchill Societies in most countries. Adolf Hitler and Nazi Germany. Which of these men is a hero? Winston Churchill or Neville Chamberlain?

Illustrate which specification is preferred : Using the current specifications, a new road will cost $1.5M initially, need $120K in annual maintenance, and need to be resurfaced every 10 years for $1.1M. If the highway department's interest rate is 6%, which specification is preferred?

Which of following statements best describes dna polymerase : which of the following statements best describes DNA polymerase?

User Account

All Pages