1. Ajax Company accumulated the following account information for the year:
Beginning ra...
1. Ajax Company accumulated the following account information for the year:
Beginning raw materials inventory: $ 6,000
Indirect materials cost: 2,000
Indirect labor cost: 5,000
Maintenance of factory equipment: 2.800
Direct labor cost: 7,000
Using the above information, total factory overhead costs would be:
Use the following to answer questions 2-3:
Use the following information from Hardy Company for the current year:
Raw materials used: $5,000
Direct Labor: 7,000
Total Factory Overhead: 5,100
Beginning goods in process: 3,000
Ending goods in process: 4,000
2. Determine Hardy%u2019s manufacturing costs added during the current year:
3. Determine Hardy%u2019s cost of goods manufactured during the current year:
4. Use the following information to compute the cost of goods manufactured:
Beginning raw materials: $ 5,500
Ending raw materials: 4,000
Direct labor: 12,250
Raw materials purchases: 7,400
Depreciation on factory equipment:. 6,500
Factory repairs and maintenance: 3,300
Beginning finished goods inventory: 10,200
Ending finished goods inventory: 8,900
Beginning goods in process inventory: 5,700
Ending goods in process inventory: 6,300
5. O. K. Company uses a job order cost accounting system and allocates its overhead on the basis of direct labor costs. O. K. expects to incur $800,000 of overhead during the next period, and expects to use 50,000 labor hours at a cost of $10.00 per hour. What is O. K. Company's overhead application rate?
6. Using the following accounts and an overhead rate of 90% of the direct labor cost, determine the amount of applied overhead.
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