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Author Question: Franklin Inc. manufactures pipes and applies manufacturing overhead costs to production at a ... (Read 92 times)

leo leo

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on: Mar 6, 2021

Question 1

For externally reported inventory costs, the Work-in-Process Control account is increased (debited) by ________.
◦ marketing costs
◦ allocated plant utility costs
◦ the purchase costs of direct and indirect materials
◦ customer-service costs

Question 2

Franklin Inc. manufactures pipes and applies manufacturing overhead costs to production at a budgeted indirect-cost rate of $15 per direct labor-hour. The following data are obtained from the accounting records for June 2018:

Direct materials$100,000
Direct labor (4,000 hours @ $10/hour)40,000
Indirect labor10,000
Plant facility rent26,000
Depreciation on plant machinery and equipment24,500
Sales commissions23,000
Administrative expenses31,000

The amount of manufacturing overhead allocated to all jobs during June 2018 totals ________.
◦ $91,500
◦ $60,000
◦ $76,000
◦ $60,500
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by leo leo on Mar 6, 2021

Expo

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Reply #1 on: Mar 6, 2021
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leo leo

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Reply 2 on: Mar 6, 2021
Thanks for the timely response, appreciate it

scottmt

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Reply 3 on: Yesterday
Excellent

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