The following information has been provided by Crosby Corporation: Direct Labor $6,100 Direct Materials Used 2,200...
The following information has been provided by Crosby Corporation: Direct Labor $6,100 Direct Materials Used 2,200 Direct Materials Purchased 9,000 Cost of Goods Manufactured 16,000 Ending Work in Process Inventory − − 1,700 Corporate Headquarters' Property taxes 600 Manufacturing Overhead Incurred 480
The beginning balance of Work-in-Process Inventory account was ________. A. $8,920 B. $8,800 C. $23,080 D. $8,780
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The following information has been provided by Crosby
Corporation: Direct Labor $6,100 Direct Materials Used 2,200...
Cevilla Corporation has the following cost records for June 2018. Direct materials used $20,000 Direct labor...
Cevilla Corporation has the following cost records for June 2018. Direct materials used $20,000 Direct labor $40,000 Manufacturing overhead $13,300 Raw materials inventory, beginning $18,000 Raw materials inventory, ending $12,000 Work in process inventory, beginning $3.000 Work in process inventory, ending $3,800 Finished goods inventory, beginning $5,000 Finished goods inventory, ending $7,500 Calculate the cost of Goods Manufactured for the month ending June 2018. O A. $7,500 OB. $73,300 O c. $72,500 OD. $70,800
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the...
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current year. Indirect labor amounted to $2,700 while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process Inventory began the year with a $5,500 balance and ended the year with...
Acme Company had the following information for the year: Direct materials used Direct labor incurred (5.000...
Acme Company had the following information for the year: Direct materials used Direct labor incurred (5.000 hours) Actual manufacturing overhead incurred $110.000 $150,000 $166,000 Acme Company uses a predetermined overhead rate of $35 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of $17.000 (Tor F) The cost of goods manufactured is S418,000. True False
For Question 5, I am looking for the cost of direct materials, direct labor, manufacturing overhead,...
For Question 5, I am looking
for the cost of direct materials, direct labor, manufacturing
overhead, and work in process inventory.
Problem 3-14 Schedule of Cost of Goods Manufactured; Overhead Analysis (LO3-3, LO3-4] Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production (not on the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $111,600 of manufacturing overhead for...
Bledsoe Corporation has provided the following data for the month of November Raw materials Work in...
Bledsoe Corporation has provided the following data for the month of November Raw materials Work in process Finished Goods Beginning Ending $ 27,000 $23,000 $ 19,000 $12,000 $ 50,000 $58,000 Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process $74,000 $94,000 $44,200 $ 4,200 $43,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. $ BLEDSOE...
1. Three costs in every product are direct materials, direct labor, and period costs direct materials,...
1. Three costs in every product are direct materials, direct labor, and period costs direct materials, work in process, and manufacturing overhead direct materials, direct labor, and manufacturing overhead direct materials, work in progress, and finished goods 2. What is the journal entry for under applied overhead? Manufacturing overhead Finished Goods Inventory Finished Goods Inventory Manufacturing Overhead Manufacturing overhead Cost of goods sold Cost of goods sold Manufacturing overhead 3. Use a piece of scrap paper...
During the current year, James Company incurred the following product costs: Direct materials used in production...
During the current year, James Company incurred the following product costs: Direct materials used in production $257,000 Direct labor $124,500 Manufacturing overhead $184,000 James Company's beginning Work in Process Inventory was $16,000 and its ending Work in Process Inventory amounted to $28,000. What is the company's cost of finished goods manufactured for the year? Multiple Choice $577,500. $553,500. $308,500. $581,500.
drums. Brody provided the following information for last year: Raw materials purchases Direct labor Depreciation on...
drums. Brody provided the following information for last year: Raw materials purchases Direct labor Depreciation on factory equipment Depreciation on factory building Depreciation on headquarters building Factory insurance Property taxes: Factory Headquarters Utilities for factory $250,000 140,000 45,000 30,000 50,000 15,000 Utilities for sales office Administrative salaries Indirect labor salaries Sales office salaries 20,000 18,000 34,000 1,800 150,000 156,000 90,000 124,000 124,000 84,000 102,000 130,000 82,000 Beginning balance, raw materials Beginning balance, work in process Beginning balance, finished goods Ending...
Bledsoe Corporation has provided the following data for the month of November Raw materials Work in...
Bledsoe Corporation has provided the following data for the month of November Raw materials Work in process Finished Goods Beginning Ending $ 25,300 $21,300 $ 17,300 $10,300 $ 48,300 $56,300 Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process $72,300 $92,300 $ 42,330 $ 4,030 $ 41,300 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold....
Bledsoe Corporation has provided the following data for the month of November: Inventories: Raw materials Work...
Bledsoe Corporation has provided the following data for the month of November: Inventories: Raw materials Work in process Finished Goods Beginning Ending $ 25,400 $21,400 $ 17,400 $10,400 $ 48,400 $56,400 Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process $72,400 $92,400 $42,440 $ 4,040 $41,400 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required:...
Cevilla Corporation has the following cost records for June 2018. Direct materials used $20,000 Direct labor $40,000 Manufacturing overhead $13,300 Raw materials inventory, beginning $18,000 Raw materials inventory, ending $12,000 Work in process inventory, beginning $3.000 Work in process inventory, ending $3,800 Finished goods inventory, beginning $5,000 Finished goods inventory, ending $7,500 Calculate the cost of Goods Manufactured for the month ending June 2018. O A. $7,500 OB. $73,300 O c. $72,500 OD. $70,800
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current year. Indirect labor amounted to $2,700 while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process Inventory began the year with a $5,500 balance and ended the year with...
Acme Company had the following information for the year: Direct materials used Direct labor incurred (5.000 hours) Actual manufacturing overhead incurred $110.000 $150,000 $166,000 Acme Company uses a predetermined overhead rate of $35 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of $17.000 (Tor F) The cost of goods manufactured is S418,000. True False
For Question 5, I am looking
for the cost of direct materials, direct labor, manufacturing
overhead, and work in process inventory.
Problem 3-14 Schedule of Cost of Goods Manufactured; Overhead Analysis (LO3-3, LO3-4] Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production (not on the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $111,600 of manufacturing overhead for...
Bledsoe Corporation has provided the following data for the month of November Raw materials Work in process Finished Goods Beginning Ending $ 27,000 $23,000 $ 19,000 $12,000 $ 50,000 $58,000 Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process $74,000 $94,000 $44,200 $ 4,200 $43,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. $ BLEDSOE...
drums. Brody provided the following information for last year: Raw materials purchases Direct labor Depreciation on factory equipment Depreciation on factory building Depreciation on headquarters building Factory insurance Property taxes: Factory Headquarters Utilities for factory $250,000 140,000 45,000 30,000 50,000 15,000 Utilities for sales office Administrative salaries Indirect labor salaries Sales office salaries 20,000 18,000 34,000 1,800 150,000 156,000 90,000 124,000 124,000 84,000 102,000 130,000 82,000 Beginning balance, raw materials Beginning balance, work in process Beginning balance, finished goods Ending...
Bledsoe Corporation has provided the following data for the month of November Raw materials Work in process Finished Goods Beginning Ending $ 25,300 $21,300 $ 17,300 $10,300 $ 48,300 $56,300 Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process $72,300 $92,300 $ 42,330 $ 4,030 $ 41,300 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold....
Bledsoe Corporation has provided the following data for the month of November: Inventories: Raw materials Work in process Finished Goods Beginning Ending $ 25,400 $21,400 $ 17,400 $10,400 $ 48,400 $56,400 Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process $72,400 $92,400 $42,440 $ 4,040 $41,400 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required:...
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