ACC 349 Week 2 Individual Assignment Assignments CH 2 3

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ACC 349 Week 2 Individual Assignment Assignments CH 2 3

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E2-6a)1)The assigned source documents assigned to this job are Direct Labor - Time Tickets; Direct Materials -2)Predetermined manufacturing overhead rate = 120% of direct labor cost.3)Direct LaborDirect MaterialsManufacturing OverheadTotalUnit Cost1,3604,8281,6327,8203.91Inventory: Finished GoodsInventory: Work in Process7,820b)E2-9a)YELLOW KNIFE MANUFACTURING COMPANYSchedule for Cost of Goods ManufacturedFor the Month Ended May 31, 2005May 1: Work in ProcessUsed Direct MaterialsDirect LaborManufacturing OverheadTotal Manufacturing CostTotal Work in Process CostMay 31: Work in ProcessManufactured Cost of Goodsb)14,70062,40032,00048,000142,400157,100(17,900)139,200YELLOW KNIFE MANUFACTURING COMPANYIncome StatementFor the Month Ended May 31, 2005SalesCost of Goods SoldMay 1: Finished GoodsManufactured Cost of GoodsCost of Goods Available for PurchaseMay 31: Finished GoodsSold Cost of GoodsGross Profitc)7,820200,00012,600139,200151,80011,500The manufacturing inventories will be reported as CurrentAssets in the May 31 Balance Sheet. These inventories are:Finished Goods: $11500140,30059,700Raw Materials: $7100Work in Process: $17900- Time Tickets; Direct Materials - Materials Requisition Slip;, and Manufacturing Overhead - Predetermined Overhead Rate.ned Overhead Rate.E3-5HAN FURNITURE COMPANYSanding DepartmentReport of ProductionFor the Month Ended April 30, 2005Equivalent Un

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