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    MC 090407817

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    naveed55
    290,000 30% Applied FOH 30% 87,000 Actual FOH W1 89,760 Under Applied FOH 2,760 Adjustment on entire production: W3 WIP 131.02 Finished GOODS 97. Cost of Goods Sold 2531. 2, 7600.00 Working 1 Actual FOH Indirect Labor 46000 Light and Power 4260 Depreciation 4700 Repairs to Machinery Misc FOH Total Factory Cost 89760 Working 2 Cost of Goods Sold Material Used Direct Labor Prime Cost Indirect Labor

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    MC 090407817

    Uploaded by

    naveed55
    7 views2 pages
    290,000 30% Applied FOH 30% 87,000 Actual FOH W1 89,760 Under Applied FOH 2,760 Adjustment on entire production: W3 WIP 131.02 Finished GOODS 97. Cost of Goods Sold 2531. 2, 7600.00 Working 1 Actual FOH Indirect Labor 46000 Light and Power 4260 Depreciation 4700 Repairs to Machinery Misc FOH Total Factory Cost 89760 Working 2 Cost of Goods Sold Material Used Direct Labor Prime Cost Indirect Labor

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    mc090407817

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    290,000 30% Applied FOH 30% 87,000 Actual FOH W1 89,760 Under Applied FOH 2,760 Adjustment on entire production: W3 WIP 131.02 Finished GOODS 97. Cost of Goods Sold 2531. 2, 7600.00 Working 1 Actual FOH Indirect Labor 46000 Light and Power 4260 Depreciation 4700 Repairs to Machinery Misc FOH Total Factory Cost 89760 Working 2 Cost of Goods Sold Material Used Direct Labor Prime Cost Indirect Labor

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    7 views2 pages

    MC 090407817

    Uploaded by

    naveed55
    290,000 30% Applied FOH 30% 87,000 Actual FOH W1 89,760 Under Applied FOH 2,760 Adjustment on entire production: W3 WIP 131.02 Finished GOODS 97. Cost of Goods Sold 2531. 2, 7600.00 Working 1 Actual FOH Indirect Labor 46000 Light and Power 4260 Depreciation 4700 Repairs to Machinery Misc FOH Total Factory Cost 89760 Working 2 Cost of Goods Sold Material Used Direct Labor Prime Cost Indirect Labor

    Copyright:

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    of 2

    Question # 1

    Answer:
    290,000*30%
    Applied FOH 30% 87,000
    Applied FOH 87,000
    Actual FOH W1 89,760
    Under Applied FOH 2,760

    Adjustment on entire production: W3


    WIP 131.02
    Finished GOODS 97.11
    Cost of goods sold 2531.87
    2, 7600.00
    Working 1
    Actual FOH
    Indirect Labor 46000
    Light & Power 4260
    Depreciation 4700
    Repairs to Machinery 5800
    Misc FOH 29000
    Total 89760

    Working 2
    Cost of Goods Sold
    Material Used 440000
    Direct Labor 290000
    Prime Cost 730000
    Indirect Labor 46000
    Light & Power 4260
    Depreciation 4700
    Repairs to Machinery 5800
    Misc FOH 29000
    Total Factory Cost 819760

    WIP Opening Balance 41200


    WIP Closing balance 42500
    Cost of Goods Manufactured 818460
    Finished Goods OB 34300
    Finished Goods CB 31500
    Cost of Goods Sold 821260

    WIP 42500 42500/895260*2760 131.2


    Finished Goods 31500 31500/895260*2760 97.11
    COGS 821260 821260/895260*2760 2531.8
    895260

    Question No.2
    Answer:2
    EOQ = SOR2xRUxOC/UCxCC%
    = SOR2x 120000x1500/60x0.6
    SOR 360000000/3.60
    SOR 100000000
    EOQ = 10000 Units

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