The writer is very fast, professional and responded to the review request fast also. Thank you.
I am having trouble figuring this out, please helpProblem 4-28
Vaughn, Inc. manufactures ergonomically designed computer furniture. Vaughn uses a job order costing system. On November 30, the Work in Process Inventory consisted of the following jobs:
Job No.ItemUnitsAccumulated CostCC723Computer caddy23,000$900,000CH291Chair15,000434,000PS812Printer stand27,000264,000$1,598,000
On November 30, Vaughn’s Raw Materials Inventory account totaled $698,000, and its Finished Goods Inventory totaled $3,466,400. Vaughn applies manufacturing overhead on the basis of machine hours. The company’s manufacturing overhead budget for the year totaled $4,900,000, and the company planned to use 980,000 machine hours during the year. Through the first eleven months of the year, the company used a total of 870,000 machine hours, total manufacturing overhead amounted to $4,274,500, and Cost of Goods Sold was $8,770,250. For the pursposes of this problem, ignore year-end disposition of over / under applied overhead.
Vaughn purchased $638,000 in raw materials in December and incurred the following costs for jobs in process that month:
Job No.Materials
IssuedMachine
HoursDirect Labor
HoursDirect Labor
CostCC723$190,00016,00014,100$124,400CH291$13,8004,4003,900$49,200PS812$214,00020,60014,300$208,500DS444$259,00018,00015,600$149,000
The following jobs were completed in December and transferred to the Finished Goods Inventory:
Job No.ItemUnitsCC723Computer caddy23,000CH291Chair15,000DS444Desk7,000
(a)Calculate the total cost of each of the four jobs worked on in December.CC723,CH291,PS812,DS44
(b)Calculate the total manufacturing cost for December.
(c)Calculate the cost of goods manufactured for December.
(d)Calculate the balance in the Work in Process Inventory account on December 31.
(e)Assume that Vaughn sold 15,000 computer caddies, 12,000 chairs, and 4,500 desks in December. Calculate Cost of Goods Sold for the month of December and the ending
Finished Goods Inventory balance on December 31. (For computation purpose round per unit rates to 2 decimal places, e.g. 3.54. Round final answers to 0 decmial places, e.g. 45,000.)
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more