Dobson Manufacturing Company Assignment

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    Dobson Manufacturing Company Assignment

    Dobson Manufacturing Company Assignment Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $57,000 and its total manufacturing overhead cost to be $91,200. Several incomplete general ledger accounts show the transactions that occurred during the most recent accounting period which is given in the second requirement.   Dobson Manufacturing Company Assignment Get Accounting homework help today from Contentmart.    predetermined overhead rate is 160 % of direct labor Raw Materials Inventory Work in Process Inventory Beginning Balance 13,400 79,100 Beginning Balance 29,700 187,700 Purchases 93,800 Direct Materials 69,200 Ending Balance 28,100 Direct Labor $41,500 Applied Overhead 66,400

    Dobson Manufacturing Company Assignment

    Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $57,000 and its total manufacturing overhead cost to be $91,200.

    Several incomplete general ledger accounts show the transactions that occurred during the most recent accounting period which is given in the second requirement.

    Dobson Manufacturing Company Assignment

     

    Dobson Manufacturing Company Assignment

    Get Accounting homework help today from Contentmart. 

     

    predetermined overhead rate is 160 % of direct labor

    Raw Materials Inventory Work in Process Inventory
    Beginning Balance 13,400 79,100 Beginning Balance 29,700 187,700
    Purchases 93,800 Direct Materials 69,200
    Ending Balance 28,100 Direct Labor $41,500
    Applied Overhead 66,400
    Ending Balance 19,100
    Finished Goods Inventory Cost of Goods Sold
    Beginning Balance 41,000 179,100 Unadjusted Cost of Goods Sold 179,100
    Cost of Goods Completed 187,700 Adjusted Cost of Goods Sold 166,200
    Ending Balance 49,600
    Sales Revenue Manufacturing Overhead
    302,000 Indirect Materials 9,900 66,400 Applied Overhead
    Indirect Labor 15,000
    Factory Depreciation 12,300
    Factory Rent 5,700
    Factory Utilities 1,900
    Other Factory Costs 8,700
    Actual Overhead 53,500
    Selling, General, and Administrative Expenses
    Adm. Salaries 27,000
    Office Depreciation 18,600
    Advertising 14,200
    Ending Balance 59,800

    Over-applied by $12,900.

    DOBSON MANUFACTURING COMPANY
    Cost of Goods Manufactured and Sold Report
    Beginning Raw Materials Inventory 13,400
    Plus: Raw Material Purchases 93,800
    Less: Indirect Material Used 9,900
    Less: Ending Raw Materials Inventory 28,100
    Direct Materials Used in Production 69,200
    Direct Labor 41,500
    Manufacturing Overhead 66,400
    Total Current Manufacturing Costs 177,100
    Plus: Beginning Work in Process Inventory 29,700
    Total Work in Process 206,800
    Less: Ending Work in Process Inventory 19,100
    Cost of Goods Manufactured 187,700
    Plus: Beginning Finished Goods Inventory 41,000
    Cost of Goods Available for Sale 228,700
    Less: Ending Finished Goods Inventory 49,600
    Unadjusted Cost of Goods Sold 179,100
    Adjustment for Overapplied Overhead -12,900
    Adjusted Cost of Goods Sold 166,200

    5. Prepare a brief income statement for the company.

    DOBSON MANUFACTURING COMPANY
    Income Statement
    Sales Revenue ??????
    Cost of Goods Sold ??????
    Gross Profit ??????
    Selling, General, and Administrative Expenses ??????
    Net Income from Operations ??????

    Dobson Manufacturing Company Assignment

     

    Dobson Manufacturing Company Assignment

    Get Accounting homework help today from Contentmart.