Not known Details About Industrial Design Prototyping - Manufacturing for Product Design

In: Accounting Naranjo Business designs commercial prototypes for outdoors companies. Budgeted overhead for the year was $160,000, and allocated direct labor hours were 16,000. The typical wage rate for direct labor is expected to be $20 per hour. Throughout Check For Updates , Naranjo Business dealt with four jobs. Data associating with these four jobs follow: Job 39 Job 40 Job 41 Job 42 Beginning balance $23,300 $32,900 $19,700 $700 Materials requisitioned 19,800 20,800 12,900 15,200 Direct labor expense 10,900 17,900 7,550 6,100 Overhead is designated as a portion of direct labor cost.

(Naranjo had actually originally developed Task 40 to buy for a consumer; however, that client was near insolvency and the chance of Naranjo being paid was growing dimmer. Naranjo decided to hold Job 40 in inventory while the consumer worked out its financial troubles. Task 40 is the only task in Finished Product Stock.) Jobs 41 and 42 stay unfinished at the end of the month.

Compute the balance in Work in Process as of June 30. $ 2. Calculate the balance in Finished Item as of June 30. $ 3. Determine the expense of goods cost June. $ 4. Compute the price charged for Job 39. Round your response to the nearby cent. $.

Question: Naranjo Company creates industrial prototypes for outdoors business. Budgeted overhead for the year was $672,000 and allocated direct labor hours were 28,000. The average wage rate for direct labor is anticipated to be $40 per hour. During June, Naranjo Business dealt with four jobs. Information relating to these 4 jobs follow: Task 39 Task 40 Task 41 Task 42 Beginning balance $25,800 $34,600 $20,000 $2,000 Products requisitioned 17,700 23,600 11,500 13,200 Direct labor cost 8,800 20,700 6,150 4,100 Overhead is designated as a portion of direct labor expense.

(Naranjo had actually originally established Job 40 to order for a customer; nevertheless, that client was near bankruptcy and the possibility of Naranjo being paid was growing dimmer. Naranjo decided to hold Job 40 in stock while the customer worked out its financial problems. Task 40 is the only task in Finished Goods Inventory.) Jobs 41 and 42 stay unfinished at the end of the month.