Posted: March 30th, 2023

Dobson Manufacturing Company Assignment

Dobson Manufacturing Company uses a job order cost system with manufacturing overhead applied to products on the basis of direct labor dollars. At the beginning of the most recent period, the company estimated its total direct labor cost to be $57,000 and its total manufacturing overhead cost to be $91,200.

Several incomplete general ledger accounts show the transactions that occurred during the most recent accounting period which is given in the second requirement.

predetermined overhead rate is 160 % of direct labor

Raw Materials Inventory Work in Process Inventory Beginning Balance 13,400 79,100 Beginning Balance 29,700 187,700 Purchases 93,800 Direct Materials 69,200 Ending Balance 28,100 Direct Labor $41,500 Applied Overhead 66,400 Ending Balance 19,100 Finished Goods Inventory Cost of Goods Sold Beginning Balance 41,000 179,100 Unadjusted Cost of Goods Sold 179,100 Cost of Goods Completed 187,700 Adjusted Cost of Goods Sold 166,200 Ending Balance 49,600 Sales Revenue Manufacturing Overhead 302,000 Indirect Materials 9,900 66,400 Applied Overhead Indirect Labor 15,000 Factory Depreciation 12,300 Factory Rent 5,700 Factory Utilities 1,900 Other Factory Costs 8,700 Actual Overhead 53,500 Selling, General, and Administrative Expenses Adm. Salaries 27,000 Office Depreciation 18,600 Advertising 14,200 Ending Balance 59,800

Over-applied by $12,900.

DOBSON MANUFACTURING COMPANY Cost of Goods Manufactured and Sold Report Beginning Raw Materials Inventory 13,400 Plus: Raw Material Purchases 93,800 Less: Indirect Material Used 9,900 Less: Ending Raw Materials Inventory 28,100 Direct Materials Used in Production 69,200 Direct Labor 41,500 Manufacturing Overhead 66,400 Total Current Manufacturing Costs 177,100 Plus: Beginning Work in Process Inventory 29,700 Total Work in Process 206,800 Less: Ending Work in Process Inventory 19,100 Cost of Goods Manufactured 187,700 Plus: Beginning Finished Goods Inventory 41,000 Cost of Goods Available for Sale 228,700 Less: Ending Finished Goods Inventory 49,600 Unadjusted Cost of Goods Sold 179,100 Adjustment for Overapplied Overhead -12,900 Adjusted Cost of Goods Sold 166,200

5. Prepare a brief income statement for the company.

	DOBSON MANUFACTURING COMPANY Income Statement Sales Revenue ?????? Cost of Goods Sold ?????? Gross Profit ?????? Selling, General, and Administrative Expenses ?????? Net Income from Operations ??????

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