Homework Answers
1.
| Leather | Direct material |
| Utility bill for the manufacturing plant | Manufacturing overhead |
| Depreciation expense on accounting department copier | Period cost |
| Wages of production line employees | Direct labor |
| Wages of sales employees | Period cost |
| Shoe laces | Direct material |
| Plant supervisor | Manufacturing overhead |
| Depreciation expense on sewing machine | Manufacturing overhead |
2.
Direct material used = Beginning raw material inventory + Raw material purchases - Ending raw material inventory
= 30,000 + 110,000 - 48,000
= $92,000
3.
Cost of goods sold = Finished goods inventory, January 1, 2016 + Cost of goods manufactured - Finished goods inventory, December 31, 2016
= 10,000 + 140,000 - 12,000
= $138,000
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1. Classify each cost as direct materials (DM), direct labor (DL), manufacturing overhead (MOH), or a...
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1. Given the following data, calculate total product costs, and total period costs, respectively? Direct Materials (DM) cost, $300,000; Direct Labor (DL) cost, $280,000; Factory Depreciation Expense, S70,000; Sales & Marketing Expense $80,000; Corporate headquarters administrative expense $30,000 2. Use $2,200,000 as total manufacturing cost (DM+DL+Factory Overhead (FO) incurred in May. Calculate ending Work in Process Inventory on May 31 given the following data. Work in process inventory, May 1 $180,000 Cost of Goods Manufactured, May 1-31 $2,300,000 3. Work...
the product costs for the direct materials, direct labor, and overhead. Then the period costs for...
the
product costs for the direct materials, direct labor, and overhead.
Then the period costs for selling and admin. Then the totals
highlighted in yellow and the total manufacturing costs. also the
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Help sort each expense item into period or product (Direct
material, direct labor, or manufacturing overhead)
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1. Given the following data, calculate total product costs, and total period costs, respectively? Direct Materials (DM) cost, $300,000; Direct Labor (DL) cost, $280,000; Factory Depreciation Expense, S70,000; Sales & Marketing Expense $80,000; Corporate headquarters administrative expense $30,000 2. Use $2,200,000 as total manufacturing cost (DM+DL+Factory Overhead (FO) incurred in May. Calculate ending Work in Process Inventory on May 31 given the following data. Work in process inventory, May 1 $180,000 Cost of Goods Manufactured, May 1-31 $2,300,000 3. Work...
the
product costs for the direct materials, direct labor, and overhead.
Then the period costs for selling and admin. Then the totals
highlighted in yellow and the total manufacturing costs. also the
cost per table
Home Insert Draw Page Layout Formulas Data Review View Lucopy Calibri (tody 11A A | A6 : x x 1 ACCT 301 Week 6 W Costs for 500 tables Ind i scred during the Raw materials a re inte Costurando Sellings Dired later incurred during...
Adelphia Manufacturing issued $80,000 of direct materials and $8,000 of indirect materials for production. Which of the following journal entries would correctly record the transaction? 88,000 88.000 88,000 80,000 8,000 O A. Manufacturing Overhead Raw Materials Inventory O B . Raw Materials Inventory Finished Goods Inventory Work-in-Process Inventory C. Work-in - Process Inventory Raw Materials Inventory OD. Work-in - Process Inventory Manufacturing Overhead Raw Materials Inventory B.8.000 88.000 80,000 8.000 The cost of goods sold for Frye Manufacturing in the...
2-2B Schedule of Cost of Goods Manufactured Vernon Bakery shows the following data related to its August 31, 2017 fiscal year: $2,400 Raw materials inventory, September 1, 2016 1,600 Raw materials inventory, August 31, 2017 200 Work in process inventory, September 1, 2016 150 Work in process inventory, August 31, 2017 Finished goods inventory, September 1, 2016 Finished goods inventory, August 31, 2017 1,000 7e 900 MOH Rent on the commercial kitchen 12,000 Sc | Depreciation of delivery vehicle DL/...
Help sort each expense item into period or product (Direct
material, direct labor, or manufacturing overhead)
EXHIBIT 1-A: Classify costs as Period or Product (DM, DL or MOH) T.。.TES. Estimated Revenues and Expenses Year IDENTIFY TYPE OF COST (put at X in the correct column) Activity level based on sales forecast (totes) 600,000 Projected Period Product Costs Amount Account Cost DM DL MOH Sales Revenues Totes 072,000 Expenses 3,600 150,000 Administrative Office Supplies Administrative Staff, e.g. accountant, receptionist Administrative Payroll...
Requirement 1. Assuming the cost object is an airplane, classif manufacturing overhead (other MOH), or period cost. What is the total for each type of cost? (Enter currency amounts in thousands and not in doll box empty, do not enter a zero.) fy each cost as one of the following direct material (DM), direct labor (DL), indirect labor (IL), indirect materials (IM), other ars. If a box is not used in the table leave th Other DM DL IM IL...
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Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $31,000 $ 4,790 $59,300 $88,700 $ 4,020 Inventories Raw materials Work in process Finished goods Beginning $ 10,400 $ 54,600 $ 34,800 Ending $ 18,700 $ 69,100 $ 42,500 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied...
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