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ACCT/386 ACCT386 ACCT 386 Week 2 Homework Question 1

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ACCT 386 Week 2 Homework Question 1 There may be chances that the figures given in our question and your question doesn’t matches. Don’t worry, we are here to help you. Just write to us at studentwhiz@gmail.com and your answer is with you in no time. Question 1 Savallas Company is highly automated and uses computers to control manufacturing operations. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of computer-hours. The following estimates were used in preparing the predetermined overhead rate at the beginning of the year: Computer-hours 87,000 Fixed manufacturing overhead cost $ 1,279,000 Variable manufacturing overhead per computer-hour $ 3.60 During the year, a severe economic recession resulted in cutting back production and a buildup of inventory in the company’s warehouse. The company’s cost records revealed the following actual cost and operating data for the year: Computer-hours 50,000 Manufacturing overhead cost $ 970,000 Inventories at year-end: Raw materials $ 420,000 Work in process $ 190,000 Finished goods $ 1,030,000 Cost of goods sold $ 2,800,000

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