Cost and Managerial Accounting WGU C250| 53 Questions with 100 % correct Answers | Verified | updated

Conversion cost = - Direct labor + Manufacturing overhead Predetermined Overhead rate (POR) = - Estimated total manufacturing overhead cost/Estimated total amount of allocation base (Usually hours) Overhead applied directly to a job = - (POR) * amount of allocation base applied to job Total manufacturing costs = - Direct materials + Direct labor + Manufacturing overhead (Usually applied using POR) Overhead underapplied if... - Actual overhead is more than applied Total manufacturing overhead costs = - Rent on manufacturing + depreciation on related manufacturing + indirect labor, production supervisor salary Cost of goods manufactured = - Direct materials + Direct labor + Manufacturing overhead applied + Beginning work in process inventory - Ending work in process inventory Adjusted cost of goods sold = - Unadjusted cost of goods sold + Underapplied manufacturing overhead - Overapplied manufacturing overhead Direct materials = - Beg Raw materials + Purchased Raw materials - End raw materials - Indirect materials included in manufacturing overhead Equivalent units of production - Transferred to (Started process) + weighted ending WIP