|
The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: |
| Costs incurred: | ||
| Direct labor cost | $ | 80,000 |
| Purchases of raw materials | $ | 137,000 |
| Manufacturing overhead | $ | 204,000 |
| Advertising expense | $ | 49,000 |
| Sales salaries | $ | 104,000 |
| Depreciation, office equipment | $ | 225,000 |
| Beginning of the Year |
End of the Year |
|||||
| Inventories: | ||||||
| Raw materials | $ | 8,200 | $ | 10,300 | ||
| Work in process | $ | 5,300 | $ | 20,300 | ||
| Finished goods | $ | 72,000 | $ | 25,300 | ||
| Required: |
| 1. |
Prepare a schedule of cost of goods manufactured. |
Homework Answers
1)
| MASON COMPANY | ||
| Schedule of Cost of Goods Manufactured | ||
| Direct materials: | ||
| Beginning of raw materials | $8,200 | |
| Add: Purchase of raw materials | $137,000 | |
| Raw materials available for use | $145,200 | |
| Less: Ending of raw materials | ($10,300) | |
| Raw materials used in production | $134,900 | |
| Direct labor cost | $80,000 | |
| Manufacturing overheads | $204,000 | |
| Total manufacturing costs | $418,900 | |
| Add: Beginning work-in process inventory | $5,300 | |
| $424,200 | ||
| Less: Ending work-in process inventory | ($20,300) | |
| Cost of Goods Manufactured | $403,900 | |
Add Answer to:
The following cost and inventory data are taken from the
accounting records of Mason Company for...
The following cost and inventory data are taken from the accounting records of Mason Company for...
The following cost and inventory data are taken from the
accounting records of Mason Company for the year just
completed:
Costs incurred:
Direct labor cost
$
80,000
Purchases of raw materials
$
137,000
Manufacturing overhead
$
204,000
Advertising expense
$
49,000
Sales salaries
$
104,000
Depreciation, office equipment
$
225,000
Beginning
of the Year
End of
the Year
Inventories:
Raw materials
$
8,200
$
10,300
Work in
process
$...
The following data from the just completed year are taken from the accounting records of Mason...
The following data from the just completed year are taken from the accounting records of Mason Company: Sales$659,000 Direct labor cost$84,000 Raw material purchases$137,000 Selling expenses$108,000 Administrative expenses$43,000 Manufacturing overhead applied to work in process$201,000 Actual manufacturing overhead costs$230,000 InventoriesBeginningEnding Raw materials$8,400$10,300 Work in process$5,900$20,300 Finished goods$72,000$25,300 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume that the...
The following data from the just completed year are taken from the accounting records of Mason...
The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $652,000 $ 89,000 $137,000 $103,000 $ 49,000 $208,000 $225,000 Inventories Beginning Ending Raw materials $ 8,400 $10,200 Work in $ 5,000 $20,200 process Finished goods $78,000 $25,800 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials...
The following data from the just completed year are taken from the accounting records of Mason...
The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 651,000 $ 85,000 $ 136,000 $ 103,000 $ 44,000 $ 204,000 $ 222,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,700 $ 5,200 $ 72,000 Ending $ 10,600 $ 20,000 $ 25,300 Required: 1. Prepare a schedule...
The following cost and inventory data are taken from the accounting records of Mason Company for...
The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: $ 81,000 Costs incurred: Direct labour cost Purchases of raw materials Indirect labour Maintenance, factory equipment Advertising expense Insurance, factory equipment Sales salaries Rent, factory facilities Supplies Depreciation, office equipment Depreciation, factory equipment A Beginning of the Year End of the Year Inventories: Raw materials Work in process Finished goods $ 9,100 11,400 24,350 $ 17,600 6,250 39,200 Required: 1....
he following cost and inventory data are taken from the accounting records of Mason Company for...
he following cost and inventory data are taken from the
accounting records of Mason Company for the year just
completed:
Costs incurred:
Direct labor cost
$
83,000
Purchases of raw materials
$
131,000
Manufacturing overhead
$
210,000
Advertising expense
$
46,000
Sales salaries
$
105,000
Depreciation, office equipment
$
228,000
Beginning
of the Year
End of
the Year
Inventories:
Raw materials
$
8,500
$
10,500
Work in
process
$...
The following data from the just completed year are taken from the accounting records of Mason...
The following data from the just completed year are taken from
the accounting records of Mason Company:
Assignment Print View Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 651,000 $ 89,000 $ 131,000 $ 107,000 $ 45,000 $ 206,000 $ 226,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,500 $ 5,300 $ 78,000 Ending $ 10,700 $ 20,900 $ 25,300 Required: 1....
The following cost and inventory data are taken from the accounting records of Mason Company for...
The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: $ 71,000 121,000 Costs incurred: Direct labour cost Purchases of raw materials Indirect labour Maintenance, factory equipment Advertising expense Insurance, factory equipment Sales salaries Rent, factory facilities Supplies Depreciation, office equipment Depreciation, factory equipment 30,500 6,100 91,000 910 51,000 24,500 4,700 3,600 21,500 Beginning of End of the Year the Year Inventories: Raw materials Work in process Finished goods $...
The following data from the just completed year are taken from the accounting records of Mason...
The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 660,000 $ 84,000 $ 132,000 $ 109,000 $ 44,000 $ 203,000 $ 226,000 Inventories Raw materiala Work in process Finished goods Beginning $ 8,200 $ 5,000 $ 72,000 Ending $ 10,900 $20,700 $25,300 Required: 1. Prepare a schedule of cost...
The following data from the just completed year are taken from the accounting records of Mason...
The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 657,000 $ 81,000 $ 138,000 $ 108,000 $ 49,000 $ 200,000 $ 223,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,100 $ 5,100 $ 76,000 Ending $ 10,100 $ 20,700 $25,300 . Required: 1. Prepare a schedule...
The following cost and inventory data are taken from the
accounting records of Mason Company for the year just
completed:
Costs incurred:
Direct labor cost
$
80,000
Purchases of raw materials
$
137,000
Manufacturing overhead
$
204,000
Advertising expense
$
49,000
Sales salaries
$
104,000
Depreciation, office equipment
$
225,000
Beginning
of the Year
End of
the Year
Inventories:
Raw materials
$
8,200
$
10,300
Work in
process
$...
The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $652,000 $ 89,000 $137,000 $103,000 $ 49,000 $208,000 $225,000 Inventories Beginning Ending Raw materials $ 8,400 $10,200 Work in $ 5,000 $20,200 process Finished goods $78,000 $25,800 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials...
The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 651,000 $ 85,000 $ 136,000 $ 103,000 $ 44,000 $ 204,000 $ 222,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,700 $ 5,200 $ 72,000 Ending $ 10,600 $ 20,000 $ 25,300 Required: 1. Prepare a schedule...
The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: $ 81,000 Costs incurred: Direct labour cost Purchases of raw materials Indirect labour Maintenance, factory equipment Advertising expense Insurance, factory equipment Sales salaries Rent, factory facilities Supplies Depreciation, office equipment Depreciation, factory equipment A Beginning of the Year End of the Year Inventories: Raw materials Work in process Finished goods $ 9,100 11,400 24,350 $ 17,600 6,250 39,200 Required: 1....
he following cost and inventory data are taken from the
accounting records of Mason Company for the year just
completed:
Costs incurred:
Direct labor cost
$
83,000
Purchases of raw materials
$
131,000
Manufacturing overhead
$
210,000
Advertising expense
$
46,000
Sales salaries
$
105,000
Depreciation, office equipment
$
228,000
Beginning
of the Year
End of
the Year
Inventories:
Raw materials
$
8,500
$
10,500
Work in
process
$...
The following data from the just completed year are taken from
the accounting records of Mason Company:
Assignment Print View Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 651,000 $ 89,000 $ 131,000 $ 107,000 $ 45,000 $ 206,000 $ 226,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,500 $ 5,300 $ 78,000 Ending $ 10,700 $ 20,900 $ 25,300 Required: 1....
The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: $ 71,000 121,000 Costs incurred: Direct labour cost Purchases of raw materials Indirect labour Maintenance, factory equipment Advertising expense Insurance, factory equipment Sales salaries Rent, factory facilities Supplies Depreciation, office equipment Depreciation, factory equipment 30,500 6,100 91,000 910 51,000 24,500 4,700 3,600 21,500 Beginning of End of the Year the Year Inventories: Raw materials Work in process Finished goods $...
The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 660,000 $ 84,000 $ 132,000 $ 109,000 $ 44,000 $ 203,000 $ 226,000 Inventories Raw materiala Work in process Finished goods Beginning $ 8,200 $ 5,000 $ 72,000 Ending $ 10,900 $20,700 $25,300 Required: 1. Prepare a schedule of cost...
The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 657,000 $ 81,000 $ 138,000 $ 108,000 $ 49,000 $ 200,000 $ 223,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,100 $ 5,100 $ 76,000 Ending $ 10,100 $ 20,700 $25,300 . Required: 1. Prepare a schedule...
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