Inventory balances for the Jameson Company in October 2018 are as follows: October 1, 2018 October...
Inventory balances for the Jameson Company in October 2018 are as follows: October 1, 2018 October 31, 2018 Raw materials $ 27,000 $21,000 Work in process 48,000 37,200 Finished goods 108,000 90,000 During October, purchases of direct materials were $36,000. Direct labor and factory overhead costs were $60,000 and $84,000, respectively. What are the total manufacturing costs added to production in the period?
Homework Answers
| Raw materials,beginning | 27000 | |
| Add: Purchases of direct materials | 36000 | |
| Less: Raw materials,ending | -21000 | |
| Direct materials used | 42000 | |
| Direct labor | 60000 | |
| Factory overhead costs | 84000 | |
| Total manufacturing costs added to production | 186000 | |
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Inventory balances for the Jameson Company in October 2018 are
as follows: October 1, 2018 October...
Inventory balances for the Jameson Company in October 2018 are as follows: October 1,
Inventory balances for the Jameson Company in October 2018 are as follows: October 1, 2018 October 31, 2018 Raw materials $ 27,000 $21,000 Work in process 48,000 37,200 Finished goods 108,000 90,000 During October, purchases of direct materials were $36,000. Direct labor and factory overhead costs were $60,000 and $84,000, respectively. What is the cost of materials used in production?
9) Inventory balances for the Jameson Company in October 2018 are as follows: October 1, 2018...
9) Inventory balances for the Jameson Company in October 2018 are as follows: October 1, 2018 October 31, 2018 Raw materials $ 27,000 $ 21,000 Work in process 48,000 37,200 Finished goods 108,000 90,000 During October, purchases of direct materials were S. 36,000. Direct labor and factory overhead costs were $ 60,000 and $. 84,000 respectively. What is the cost of goods manufactured? a) $ 180,000 b) $ 186,000. c) $ 194,000 d) $ 196,800
9) Inventory balances for the Jameson Company in October 2018 are as follows: October 1, 2018...
9) Inventory balances for the Jameson Company in October 2018 are as follows: October 1, 2018 October 31, 2018 Raw materials $ 27,000 $ 21,000 Work in process 48,000 37,200 Finished goods 108,000 90,000 During October, purchases of direct materials were $ 36,000. Direct labor and factory overhead costs were $ 60,000 and $ 84,000 respectively. What is the cost of goods manufactured? a) $ 180,000. b) $ 186,000 c) $ 194,000 > d) $ 196,800 Answer: _(4 points)
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Exercise JoJo Co. had the following balances and information for October Beg finished goods inventory =...
Exercise JoJo Co. had the following balances and information for October Beg finished goods inventory = $18 Beg. work in process inventory = $3 Beg, raw materials inventory = $9 End, finished goods inventory = $9 End. Work in process inventory = $6 End. raw materials inventory = $15 Raw material purchases = $OU Factory wages paid = $90 Indirect materials = $b Indirect labor $21 Other overhead costs = $54 Sales = $330 Predetermined overhead rate = 200% direct...
The Ryde and Rowe Inc. had the following account balances as of January 1: $ 8,700 76,500 Direct Materials Inventory Wo...
The Ryde and Rowe Inc. had the following account balances as of January 1: $ 8,700 76,500 Direct Materials Inventory Work in Process Inventory Finished Goods Inventory Manufacturing Overhead 53,000 During the month of January, all of the following occurred: 1. Direct labor costs were $48,000 for 1,800 hours worked. Direct materials costing $25,000 and indirect materials costing $4,300 were purchased. 3. Sales commissions of $16,000 were earned by the sales force. 4. $21,000 worth of direct materials were used...
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory...
Required information
[The following information applies to the questions
displayed below.]
Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw
materials purchases in April are $520,000, and factory payroll cost
in April is $388,000. Overhead costs incurred in April are:
indirect materials, $56,000; indirect labor, $28,000; factory rent,
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The Ryde and Rowe Inc. had the following account balances as of January 1 Inventory Inventory...
The Ryde and Rowe Inc. had the following account balances as of January 1 Inventory Inventory Inventory Overhead Direct Materials Work in Process Finished Goods Manufacturing $ 8,700 76,500 53,000 0 During the month of January, all of the following occurred 1. Direct labor costs were $48,000 for 1,800 hours worked 2 Direct materials costing $29,000 and indirect materials costing $5,100 were purchased 3. Sales commissions of $17,000 were earned by the sales force 4. $22,000 worth of direct materials...
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9) Inventory balances for the Jameson Company in October 2018 are as follows: October 1, 2018 October 31, 2018 Raw materials $ 27,000 $ 21,000 Work in process 48,000 37,200 Finished goods 108,000 90,000 During October, purchases of direct materials were S. 36,000. Direct labor and factory overhead costs were $ 60,000 and $. 84,000 respectively. What is the cost of goods manufactured? a) $ 180,000 b) $ 186,000. c) $ 194,000 d) $ 196,800
9) Inventory balances for the Jameson Company in October 2018 are as follows: October 1, 2018 October 31, 2018 Raw materials $ 27,000 $ 21,000 Work in process 48,000 37,200 Finished goods 108,000 90,000 During October, purchases of direct materials were $ 36,000. Direct labor and factory overhead costs were $ 60,000 and $ 84,000 respectively. What is the cost of goods manufactured? a) $ 180,000. b) $ 186,000 c) $ 194,000 > d) $ 196,800 Answer: _(4 points)
Exercise JoJo Co. had the following balances and information for October Beg finished goods inventory = $18 Beg. work in process inventory = $3 Beg, raw materials inventory = $9 End, finished goods inventory = $9 End. Work in process inventory = $6 End. raw materials inventory = $15 Raw material purchases = $OU Factory wages paid = $90 Indirect materials = $b Indirect labor $21 Other overhead costs = $54 Sales = $330 Predetermined overhead rate = 200% direct...
The Ryde and Rowe Inc. had the following account balances as of January 1: $ 8,700 76,500 Direct Materials Inventory Work in Process Inventory Finished Goods Inventory Manufacturing Overhead 53,000 During the month of January, all of the following occurred: 1. Direct labor costs were $48,000 for 1,800 hours worked. Direct materials costing $25,000 and indirect materials costing $4,300 were purchased. 3. Sales commissions of $16,000 were earned by the sales force. 4. $21,000 worth of direct materials were used...
Required information
[The following information applies to the questions
displayed below.]
Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw
materials purchases in April are $520,000, and factory payroll cost
in April is $388,000. Overhead costs incurred in April are:
indirect materials, $56,000; indirect labor, $28,000; factory rent,
$37,000; factory utilities, $24,000; and factory equipment
depreciation, $61,000. The predetermined overhead rate is 50% of
direct labor cost. Job 306 is sold for $680,000 cash in April.
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The Ryde and Rowe Inc. had the following account balances as of January 1 Inventory Inventory Inventory Overhead Direct Materials Work in Process Finished Goods Manufacturing $ 8,700 76,500 53,000 0 During the month of January, all of the following occurred 1. Direct labor costs were $48,000 for 1,800 hours worked 2 Direct materials costing $29,000 and indirect materials costing $5,100 were purchased 3. Sales commissions of $17,000 were earned by the sales force 4. $22,000 worth of direct materials...
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