Assignment 4 ch5 Question 6 of 6 6 Manufacturing Overhead De

Assignment #4 (ch5) Question 6 (of 6) 6. Manufacturing Overhead Debits 389,600 Credits 32.000 Credits Bal. 1/1 Bal 31/1264,000 in Process Debits 184,000 12,000 Ball. 111 Direct materials 324,000 Direct labour 114,000 Bal. 1/1 Credits 180,000 Bal. 31/12 8,000 Bal31/12 Cost of Goods Sold Bal. 1/1 Debits Debits Bal 31/1 Required

Solution

6. Rate =1.25

7.

8.

1	Cost of raw materials	3,98,000
	Opening balance	32,000
	Purchases	4,30,000
	Raw materials available	4,62,000
	Less closing balance	64,000
	Used in production	3,98,000
2	Indirect material	74,000
	Total used	3,98,000
	Less used in WIP	3,24,000
	Indirect material	74,000
3	Indirect labor	66,000
	Total wages expense	1,80,000
	Less WIP wages	1,14,000
	Indirect labor	66,000