Homework Answers
| Calculation of cost of goods sold | ||
| Beginning Inventory Direct Material | 35000 | |
| Purchases | 175000 | |
| Less: Ending Inventory Direct Material | 20000 | |
| Direct Material Used | 190000 | |
| Direct labor | 225000 | |
| Factory overheads: | ||
| Manufacturing equipment depreciation | 90000 | |
| Plant utilities | 50000 | |
| Indirect plant labor | 60000 | 200000 |
| Total manufacturing costs | 615000 | |
| Add: Beginning work in process | 80000 | |
| Less: Ending Work in Process | 85000 | |
| Cost of goods manufactured | 610000 | |
| Add: Beginning Finished goods Inventory | 90000 | |
| Less: Ending Finished Goods Inventory | 75000 | |
| Cost of Goods Sold | 625000 | |
| Hence, the answer is $625,000 |
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Hamza Corporation reported the following results for the current year: Revenue Beginning inventory, Direct Materials Ending...
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For the month of August 2020. Best Corporation reported the following amounts: 1 Beginning direct materials...
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For last year, Lewisburn Manufacturing reported the following: Revenue $420,000 Beginning inventory of direct materials, January 1 22,000 Purchases of direct materials 146,000 Ending inventory of direct materials, December 31 16,000 Direct manufacturing labor 18,000 Indirect manufacturing costs 40,000 Beginning inventory of finished goods, January 1 35,000 Beginning inventory of work in process, January 1 4,000 Ending inventory of finished goods, December 31 36,000 Operating costs 140,000 Ending Inventory of work in process, December 31 110,000 What was Lewisbum's cost...
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