Answer: $39,500
Explanation:
Service Cost for the year = Ending PBO - Opening PBO - Interest cost + Benefits paid
<u>Opening PBO</u>
Opening PBO is the amount that the interest was charged on.
Discount rate of 10% came out to be $7,500.
The opening balance = 7,500/10%
= $75,000
Service Cost = 112,000 - 75,000 - 7,500 + 10,000
Service Cost for the year = $39,500
Answer:
See below
Explanation:
A. Cost of goods manufactured
Beginning work in process
$18,000
Add: Beginning raw materials
$26,000
Raw material purchases
$73,000
Less: Ending raw material
($22,000)
Add: direct labor cost
$93,000
Add: manufacturing overhead cost applied
$43,100
Less: Ending work in process
($11,000)
Balance
$220,100
B. Schedule of cost of goods sold
Beginning finished goods
$49,000
Add: cost of goods manufactured
$220,100
Less: Ending finished goods
($57,000)
Unadjusted COGS
$212,100
Add: Under applied MOH
$1,100
Adjusted COGS
$213,200
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