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I’ve worked on this for hours now. Where ever I left a “?” is a number I am looking for. You can explain how you got it if you like because I am really wanting to learn this but if not thats fine. I have figured everything else out on this problem. Just can’t seem to piece it together. Thanks in advance, I really do appreciate it.
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March”Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): |
| Estimated total fixed manufacturing overhead | $ | 10,000 |
| Estimated variable manufacturing overhead per direct labor hour | $ | 1.00 |
| Estimated total direct labor hours to be worked | 2,000 | |
| Total actual manufacturing overhead costs incurred | $ | 12,500 |
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| Job P | Job Q | |||
| Direct materials | $ | 13,000 | $ | 8,000 |
| Direct labor cost | $ | 21,000 | $ | 7,500 |
| Actual direct labor hours worked | 1,400 | 500 | ||
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| Required: |
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Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Prepare a schedule of cost of goods manufactured. (Input all amounts as positive values. Leave no cells blank be certain to enter “0” wherever required.) |
| Schedule of Cost of Goods Manufactured | ||
| Direct materials: | ||
| Raw materials inventory, beginning 0 Add: Purchase of raw materials ? |
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| Total raw materials available ? Deduct: Raw Materials inventory, ending 1000 |
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| Raw materials used in production ? Direct Labor 28,500 Manufacturing overhead applied to work in process inventory 11,400 |
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| Total manufacturing costs ? | ||
| Add: Beginning work in process inventory 0 Total of manfacturing cost + Beginning work in process inventory (0+ Total Manufactring) Deduct Ending work in process inventory ? Cost of goods manufactured ? |
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