Author Question: Athletic Gen Inc. has determined the following unit costs and selling price for each of its ... (Read 40 times)

rubiosusy7 · **on:** Feb 5, 2023

Athletic Gen Inc. has determined the following unit costs and selling price for each of its products:

	Shorts	Shirts	Sweat Suits
Direct materials	$4.45	$6.85	$44.70
Direct labor	2.50	2.00	15.00
Manufacturing overhead	3.00	2.40	18.00
Total unit cost	$9.95	$11.25	$77.70

Sales price per unit	$12.00	$14.80	$125.00

On May 31, Athletic Gen Inc.'s Work in Process Inventory consisted of the following items:

Job	Units	Accumulated Cost
Shorts	100	$ 715
Shirts	200	1,800
Sweat Suits	50	3,045
		$5,560

During June, a total of $190,590 in direct materials and $76,200 in direct labor costs were incurred. Units finished and sold during June were as follows:

Product	Units Finished	Units Sold
Shorts	13,500	14,000
Shirts	3,200	3,100
Sweat Suits	2,500	2,500

Required

a.	Given that Athletic Gen Inc. uses direct labor dollars as its application base, what is

the company's predetermined overhead rate?

b.	Calculate the total manufacturing cost for June.

c.	Calculate the cost of goods manufactured for June.

d.	Calculate the ending Work in Process Inventory balance on June 30.

e.	Calculate Cost of Goods Sold for June.

kaynelson17 · **Reply #1 on:** Feb 5, 2023

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