Homework Answers
Cost of Goods manufactured
= Beginning wip + Total manufacturing costs - Ending wip
= 156,000 + (315,000+226,000+184,00) - 148,000
= 156,000 + 725,000 - 148,000
= 733,000
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Lakeside Machining, Inc., has the following inventory account balances and related manufacturing cost information for the...
need help with this homework question tonight Given the following information, prepare a sched inventory balances...
need help with this homework question tonight
Given the following information, prepare a sched inventory balances to arrive at the nowing information, prepare a schedule for the cost of goods manufactured and other wrences to arrive at the Cost of Goods Sold for Madeline Company for August 2017. 52,000 OT *** s used were supplies for the factory. The remainder were used directly in the production product. Any under or over-applied overhead is closed to cost of goods sold. Raw...
Finch Manufacturing started in 2018 with the following account balances: Cash $ 5,300 Common stock 4,313...
Finch Manufacturing started in 2018 with the following account
balances:
Cash
$
5,300
Common stock
4,313
Retained earnings
5,900
Raw materials inventory
1,700
Work in process inventory
840
Finished goods inventory (420 units @ $5.65 each)
2,373
Transactions during 2018
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department.
Incurred and paid cash for 190 hours of direct labor @ $15.10
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Required information The following selected account balances are provided for Delray Mfg. $ Sales Raw materials...
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Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as...
Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Raw materials Work in process Finished Goods Beginning Ending Balance Balance $ 15,000 $23,000 $ 28,000 $10,000 $ 63,000 $78,000 • The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 34,000 machine-hours and incur $306,000 in manufacturing...
COMPREHENSIVE PROBLEM 1 Morrison Company began the year with the following balances in its inventory accounts:...
COMPREHENSIVE PROBLEM 1 Morrison Company began the year with the following balances in its inventory accounts: • Raw Materials $ 15,000 • Work-in-Process $ 45,000 • Finished Goods $ 85,000 Morrison applies overhead to production using direct labor hours. As of the beginning of the year, Morrison estimated the year's total manufacturing overhead to be $140,000 and total direct labor hours to be 5,000. The following transactions occurred during the year: 1. Purchased $94,000 of raw materials on account. 2....
need help with this homework question tonight
Given the following information, prepare a sched inventory balances to arrive at the nowing information, prepare a schedule for the cost of goods manufactured and other wrences to arrive at the Cost of Goods Sold for Madeline Company for August 2017. 52,000 OT *** s used were supplies for the factory. The remainder were used directly in the production product. Any under or over-applied overhead is closed to cost of goods sold. Raw...
Finch Manufacturing started in 2018 with the following account
balances:
Cash
$
5,300
Common stock
4,313
Retained earnings
5,900
Raw materials inventory
1,700
Work in process inventory
840
Finished goods inventory (420 units @ $5.65 each)
2,373
Transactions during 2018
Purchased $2,910 of raw materials with cash.
Transferred $3,830 of raw materials to the production
department.
Incurred and paid cash for 190 hours of direct labor @ $15.10
per hour.
Applied overhead costs to the Work in Process Inventory...
Rediger Inc., a manufacturing Corporation, has provided the following data for the month of June. The balance in the Work in Process inventory account was $24,000 at the beginning of the month and $18,000 at the end of the month. During the month, the Corporation incurred direct materials cost of $55,400 and direct labor cost of $28,600. The actual manufacturing overhead cost incurred was $53,200. The manufacturing overhead cost applied to Work in Process was $51,400. The cost of goods...
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Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Raw materials Work in process Finished Goods Beginning Ending Balance Balance $ 15,000 $23,000 $ 28,000 $10,000 $ 63,000 $78,000 • The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 34,000 machine-hours and incur $306,000 in manufacturing...
COMPREHENSIVE PROBLEM 1 Morrison Company began the year with the following balances in its inventory accounts: • Raw Materials $ 15,000 • Work-in-Process $ 45,000 • Finished Goods $ 85,000 Morrison applies overhead to production using direct labor hours. As of the beginning of the year, Morrison estimated the year's total manufacturing overhead to be $140,000 and total direct labor hours to be 5,000. The following transactions occurred during the year: 1. Purchased $94,000 of raw materials on account. 2....
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