Solution-What is the allocation rate for wip

What is the allocation rate for wip

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

Questions Cloud

What is it with periods : What is it with "periods"? How do periods of presumably distinctive historical experiences help us understand the urbanization of Europe? What can be problematic about taking periodization too seriously?

Identify the primary ways in which the sourcing function : Identify the primary ways in which the sourcing function impacts supply chain management (SCM)

Who traditionally relates to women in a sexist manner : What Women Want is the story of a man who traditionally relates to women in a sexist manner. Through a freak accident, he is given the ability to understand women in a unique way, which alters his communication methods and style. 1. What percep..

Difference between concept of design quality and conformance : What is the difference between the concepts of design quality and conformance quality?

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

What is it really telling those who participate : Based on our text (or other outside source), what is this report evaluating? What is it really telling those who participate? What is it NOT evaluating

Capstone forum requiringconsolidation of information learned : Capstone forum requiringconsolidation of information learned and skills acquired during the courseterm. Here you will share with classmates a research study proposal you havedeveloped that could be used to investigate a social-psychological issue. So..

Differences between marketing in a developing and a develope : What are the differences between marketing in a developing and a developed market?

What impact do you want to make in the field of psychology : What impact do you want to make in the field of psychology? What are your passions and areas of interest within psychology? What might you like to learn more about through research and scholarship in the field? What would your practice of psychology ..

User Account

All Pages

What is the allocation rate for wip

Reference no: EM13862188

Reference no: EM13862188

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Determine the number of units that mac company

Basic and diluted earnings per share calculation

The investment policy statement of an institution

Prepare a retained earnings statement for 2012

Prepare a schedule of cash collections from sales

Balance on a worksheet and complete the worksheet

Evaluate the break-even point in dollars for 2012

Evaluate a master budget for the three-month period

Compute operating profit for march and april

What factor should bronson inc consider

Write an explanatory essay on capital the essay should not

Determine the corrected amounts for 2010 cost of goods sold

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT