1.
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Total Production costs
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Direct materials
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conversion costs
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Work in Process beginning
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Costs added in current period
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total costs to account for
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|
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Fill in this chart using this information:
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Total production costs
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Direct Material
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Conversion costs
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|
Completed and transferred out
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26845
|
15015
|
11830
|
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WIP ending
|
5304
|
4290
|
1014
|
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Total costs accounted for:
|
32149
|
19305
|
12844
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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
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Account
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Ending Balance
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2012 direct manuf. Labor cost in ending balance
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WIP
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51000
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20520
|
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Finished goods
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238000
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59280
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COGS
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561000
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148200
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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