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)
4.Inventory balances for Balmer Company in April 2018 are as follows: April 1, 2018 April 30,...
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Inventory balances for Marshall, Inc., in June 2018 are as follows: June 1, 2018 June 30, 2018 Raw materials $1,125 $ 875 Work in process 2,000 1,550 Finished goods 4,500 3,750 During June, purchases of direct materials were $1,500. Direct labor and factory overhead costs were $2,500 and $3,500, respectively. Conversion costs for June were
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...
Phillips Company is a manufacturer of computers. Its controller resigned in October 2018. An inexperienced assistant...
Phillips Company is a manufacturer of computers. Its controller resigned in October 2018. An inexperienced assistant accountant has prepared the following income statement for the month of October 2018. Phillips Company Income Statement For the Month Ended October 31, 2018 Sales revenue $780,000 Less: Operating expenses Raw materials purchases $264,000 Direct labor cost 190,000 Advertising expense 90,000 Selling and administrative salaries 75,000 Rent on factory facilities 60,000 Depreciation on sales equipment 45,000 Depreciation on factory equipment 31,000 Indirect labor cost...
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.
Costs of...
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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