Shopping Cart
Your shopping cart is empty!

B6021 Module 2 Assignment 2 Manufacturing Overhead Updated

B6021 Module 2 Assignment 2 Manufacturing Overhead Updated
Price: $20.00 $11.99
Qty:   Check out
This Tutorial was Purchased: 9  Times   & Rated: A by student like you.

attachments This Tutorial contains following Attachments:

No Attachments

B6021 Module 2 Assignment 2 Manufacturing Overhead NEW


Finlon Upholstery Inc. uses a job-order costing system to accumulate manufacturing costs. The company's work-in-process on December 31, 2001, consisted of one job (no. 2077), which was carried on the year-end balance sheet at $156,800. There was no finished-goods inventory on this date.

Finlon applies manufacturing overhead to production on the basis of direct-labor cost. (The budgeted direct-labor cost is the company's practical capacity, in terms of direct-labor hours multiplied by the budgeted direct-labor rate.) Budgeted totals for 2002 for direct labor and manufacturing overhead are $4,200,000 and $5,460,000, respectively. Actual results for the year are as follows:

Actual Results


Direct Materials Used


Direct Labor


Indirect Material Used


Indirect Labor


Factory Depreciation


Factory Insurance


Factory Utilities


Selling and Administrative Expenses





Job No. 2077 was completed in January 2002 and there was no work in process at year-end. All jobs produced during 2002 were sold with the exception of Job No. 2143, which contained direct-material costs of $156,000 and direct-labor charges of $85,000. The company charges any under- or over-applied overhead to the cost of goods sold category.

Using the above information, do the following:

Calculate the company’s predetermined overhead application rate.
Calculate the additions to the work-in-process inventory account for the direct material used, direct labor, and manufacturing overhead.
Calculate the finished-goods inventory for the 12/31/01 balance sheet.
Calculate the over-applied or under-applied overhead at year-end.
Explain if it is appropriate to include selling and administrative expenses in the cost of goods sold category.
Perform your calculations in an Excel spreadsheet and copy the calculations into a Word document. Your final product should be a 1-page paper in Word format. Apply APA standards to citation of sources.

Write a review

Your Name:

Your Review: Note: HTML is not translated!

A   B   C   D   F  

Enter the code in the box below: