Cost Management

Company uses normal costing in its job-costing system. The company produces custom bikes for toddlers. The beginning balances (December 1) and ending balances (as of December 30) in their inventory accounts are as follows:

Beginning Balance 12/1 Ending Balance 12/30
Materials Control Tshs 1,200,000 Tshs 7,600,000
Work-in-Process Control 5,800,000 8,100,000
Manufacturing Department Overhead Control 94,070,000
Finished Goods Control 3,500,000 18,500,000

Additional information follows:

Don't use plagiarized sources. Get Your Custom Essay on
Cost Management
Just from $13/Page
Order Essay

a. Direct materials purchased during December were Tshs65,400,000.

b. Cost of goods manufactured for December was Tshs225,000,000.

c. No direct materials were returned to suppliers.

d. No units were started or completed on December 31.

e. The manufacturing labour costs for the December 31 working day: direct manufacturing labour, Tshs3,850,000 and indirect manufacturing labour, Tshs950,000.

f. Manufacturing overhead has been allocated at 120% of direct manufacturing labour costs through December 30.

Required

a. Compute the total amount of materials requisitioned into work in process during December

b. Compute the total amount of direct manufacturing labour recorded in work in process during December.

c. Computethe total amount of manufacturing overhead recorded in work in process during December.

d. Compute ending balance in work in process, December 31

e. Cost of goods sold for December before adjustments for under- or over allocated manufacturing overhead.

Place Order
Grab A 14% Discount on This Paper
Pages (550 words)
Approximate price: -
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Try it now!

Grab A 14% Discount on This Paper

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.