Solution-What is the allocation rate for wip

What is the allocation rate for wip

Assignment Help Cost Accounting

Reference no: EM13862188

	Total Production costs	Direct materials	conversion costs
Work in Process beginning
Costs added in current period
total costs to account for

Fill in this chart using this information:

	Total production costs	Direct Material	Conversion costs
Completed and transferred out	26845	15015	11830
WIP ending	5304	4290	1014
Total costs accounted for:	32149	19305	12844

2. Budgeted manuf. overhead cost = 135,000
Budgeted direct manuf. labor cost = 225,000
actual manuf. overhead cost = 131,800
actual direct manuf. labor cost = 228,000

Account	Ending Balance	2012 direct manuf. Labor cost in ending balance
WIP	51000	20520
Finished goods	238000	59280
COGS	561000	148200

overhead allocation rate = 60%
under/over allocated = 5000

Using all the information above please fill out both graphs:

What is the equation to find allocation rate and what is the allocation rate for WIP, Finished goods and Cogs

What is the equation for ending balance and what is the ending balance for WIP, finished goods and COGS

Reference no: EM13862188

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What is the allocation rate for wip

Reference no: EM13862188

Reference no: EM13862188

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