The following account balances at the beginning of January were selected from the general ledger of Logan Industries:
| Work in process inventory | $0 |
| Raw materials inventory | $29,500 |
| Finished goods inventory | $51,200 |
Additional data:
| 1) | Actual manufacturing overhead for January amounted to $78,200. |
| 2) | Total direct labour cost for January was $72,000; actual direct labour hours for January were |
3,600.
| 3) | The predetermined manufacturing overhead rate is based on direct labour hours. The budget |
for the year called for $325,000 of direct labour cost and $410,400 of manufacturing overhead costs. Estimated direct labour hours for the year were expected to be 15,200.
| 4) | The only job unfinished on January 31 was Job No. 619, for which total direct labour charges |
were $18,000 (900 direct labour hours) and total direct material charges were $15,700.
| 5) | Cost of direct materials placed in production during January totaled $125,000. |
| 6) | January 31 balance in raw materials inventory was $32,000. |
| 7) | Finished goods inventory balance on January 31 was $42,300. |
Required:
| A) | Determine the predetermined manufacturing overhead rate. |
| B) | Determine the amount of materials purchased during January. |
| C) | Determine cost of goods manufactured for January. |
| D) | Determine the work in process inventory balance on January 31. |
| E) | Determine cost of goods sold for January. |
| F) | Determine whether manufacturing overhead is overallocated or underallocated and by what |
amount at Jan. 31.
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