Calculation of Cost of Goods Manufactured : -
Particulars | Amount ($) | Amount ($) |
Direct Material : | ||
Beginning Raw Material Inventory | 60,000 | |
Add : Purchase of raw material | 240,000 | |
Less : Closing Raw Material Inventory | (70,000) | |
Direct Material Used (A) | 230,000 | |
Direct Labor (B) | 400,000 | |
Manufacturing Overhead : | ||
Indirect Material | 9,000 | |
Indirect Labor | 25,000 | |
Depreciation on Plant & Equipment | 100,000 | |
Utilities | 25,000 | |
Others | 30,000 | |
Total Manufacturing Overhead (C) | 189,000 | |
Total Manufacturing Cost (A + B + C) = D | 819,000 | |
Beginning Work In Progress | 120,000 | |
Less : Ending Work In Progress | 115,000 | |
Work In Progress (E) | 5,000 | |
Cost of Goods Manufactured (D + E) | 824,000 | |
[The following information applies to the questions displayed below.] Alhambra Aluminum Company, a manufacturer of recyclable...
[The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification January 1, 20x1 December 31, 20x1 Raw material $ 50,000 $ 70,000 Work in process 120,000 115,000 Finished goods 150,000 165,000 During 20x1, the company purchased $260,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: Indirect material $ 10,000 Indirect labor...
Alhambra Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1 Inventory December 31, 20x1 $ 70,000 January 1, 20x1 Classification Raw material Work in process 60,000 120,000 115,000 Finished goods 150,000 65,000 During 20x1, the company purchased $240,000 of raw material and spent $400,000 for direct labor. Manufacturing overhead costs were as follows $ 9,000 Indirect material Indirect labor Depreciation on plant and 25,000 100,000 25,000 equipment Utilities Other...
Alhambra Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1 Inventory December 31, 20x1 $ 70,000 January 1, 20x1 Classification Raw material Work in process 60,000 120,000 115,000 Finished goods 150,000 65,000 During 20x1, the company purchased $240,000 of raw material and spent $400,000 for direct labor. Manufacturing overhead costs were as follows $ 9,000 Indirect material Indirect labor Depreciation on plant and 25,000 100,000 25,000 equipment Utilities Other...
Required information [The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification January 1, 20x1 December 31, 20x1 Raw material $ 60,000 $ 70,000 Work in process 120,000 115,000 Finished goods 170,000 165,000 During 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: Indirect material $ 8,000...
Alhambra Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification January 1, 20x1 December 31, 20x1 Raw material $ 55,000 $ 70,000 Work in process 120,000 115,000 Finished goods 160,000 165,000 During 20x1, the company purchased $250,000 of raw material and spent $400,000 for direct labor. Manufacturing overhead costs were as follows: Indirect material $ 9,000 Indirect labor 26,000 Depreciation on plant and equipment 100,000 Utilities 24,000...
Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification January 1, 20x1 December 31, 20x1 Raw material $ 60,000 $ 70,000 Work in process 120,000 115,000 Finished goods 140,000 165,000 During 20x1, the company purchased $240,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: Indirect material $ 10,000 Indirect labor 24,000 Depreciation on plant and equipment 100,000 Utilities 25,000...
Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification January 1, 20x1 December 31, 20x1 Raw material $ 60,000 $ 70,000 Work in process 120,000 115,000 Finished goods 140,000 165,000 During 20x1, the company purchased $240,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: Indirect material $ 10,000 Indirect labor 24,000 Depreciation on plant and equipment 100,000 Utilities 25,000...
Required information Exercise 2-28 Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1, 2-3, 2-6) [The following information applies to the questions displayed below.j Alhambra Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1 December 31 20x1 $ 70,000 Inventory January 1, 20x1 Classification Raw material Work in process 60,000 20,000 115,000 Finished goods 140,000 165,000 During 20x1, the company purchased $240,000 of raw material and...
Required information (The following information applies to the questions displayed below] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20xL January 2011 Inventory classification av saterial Work in process Finished goods $5,000 Dece111 $ 70.000 115.000 120.000 160,000 During 20xt, the company purchased $250,000 of raw material and spent $400,000 on direct labot Manufacturing Overhead costs were as follows Sales revenue was $100.000 for the year. Selling and...
Required information Exercise 2-29 Schedules of Cost of Goods Manufactured and Sold Income Statement (LO 2-1, 2-3, 2-6) [The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1 Inventory Classification Raw material Work in process Finished goods January 1, 20x1 $ 65, 000 120,000 170,000 December 31, 20x1 $ 70,000 115,000 165,000 During 20x1, the company purchased $240,000 of raw...