What will the balance be in the work-in-process account

Reference no: EM133608474

Question: Stohz, Inc. has estimated the following operating data for the current year: Direct labor hours: 11000 Machine hours: 10000 Direct materials cost: $68000 Manufacturing overhead: $69000 Assume that Stohz, Inc. computes a predetermined overhead rate annually based on direct labor hours. At the beginning of January Stohz, Inc. had a zero balance in the Work-in-process inventory account. During January, Stohz, Inc. works on 2 jobs. Job-1 is completed by the end of January. Stohz, Inc. accumulated the following actual operating data by job during January: Job -1 Direct labor hours 528 Machine hours 386 Direct materials cost $1500 Job -2 Direct labor hours 242 Machine hours 414 Direct materials cost $4620 Total Direct labor hours 770 Machine hours 800 Direct materials cost $6120 The direct labor wage rate is $18 per hour during January. Actual manufacturing overhead for January is $4485. Stohz, Inc. closes out the overhead variance account at the end of each year (December 31). What is the predetermined overhead rate (per direct labor hour) that Stohz, Inc. will use for the current year? Round the rate to the nearest penny for your answer and use in other calculations. What will the balance be in the Work-in-process account

Reference no: EM133608474

Questions Cloud

Develop suggestions for building internal network capable : Assume the role of a network architect and develop three suggestions for building an internal network capable of performing these functions.

What are differential diagnosis for this patient : He has noted slight bilateral foot and ankle swelling worse over past several months. What are differential diagnosis for this patient

Create a table that compares the features : Compare their list of features (active IDS, passive IDS, network-based, host-based, anomaly systems, etc.). Create a table that compares the features.

What you have learned regarding sterilization monitoring : Discuss the characteristics of each, the advantages and disadvantages, and anything else that helps you differentiate between the various forms of monitoring

What will the balance be in the work-in-process account : What is the predetermined overhead rate (per direct labor hour) that Stohz, Inc. will use for the current year? Round the rate to the nearest penny

What does her nurse practitioner suspect and why : What does her Nurse Practitioner suspect and why? What risk factors does Elsa have for this?

Demonstrate cause and effect between obesity in childhood : Do such data from case-control studies demonstrate cause and effect between obesity in childhood and diabetes mellitus in adulthood? Discuss it.

What would be the impact on tcis external funding : What would be the impact on TCIs external funding needs as of the end of 1997 if: Days receivables were reduced to 45 days, or days payables were increased

Determining the risk of rhesus illness : determining the risk of Rhesus (Rh) illness, which occurs when a Rh-negative mother's immune system attacks the Rh-positive blood of her Rh-positive fetus.

User Account

All Pages