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Cost of Goods Sold Budget Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has...
Ending Finished Goods Inventory Budget Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has...
Ending Finished Goods Inventory Budget Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has the following manufacturing costs: Direct materials $1.65 Direct labor 0.60 Variable overhead 0.75 Fixed overhead 1.80 Total unit cost $4.80 For the coming year, Play-Disc expects to make 320,000 plastic discs, and to sell 305,000 of them. Budgeted beginning inventory in units is 20,000 with unit cost of $4.80. (There are no beginning or ending inventories of work in process.) Required: 1. Prepare an...
Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic...
Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 30,200 barrels of oil for purchase in June for $65 per barrel. Direct labor budgeted in the chemical process was $235,600 for June. Factory overhead was budgeted at $353,300 during June. The inventories on June 1 were estimated to be: Oil $16,500 P1 11,100 P2 9,400 Work in process 13,700 The desired inventories on June 30 were: Oil...
Cost of Goods Sold Budget Delaware Chemical Company uses oll to produce two types of plastic products, Pl and P2. Delaw...
Cost of Goods Sold Budget Delaware Chemical Company uses oll to produce two types of plastic products, Pl and P2. Delaware budgeted 21,000 barrels of oil for purchase in June for $62 per barrel. Direct labor budgeted in the chemical process was $169,300 for June. Factory overhead was budgeted at $234,400 during June. The inventories on June 1 were estimated to be: $11,900 NOWN 8,000 6,800 Work in process 9,800 The desired inventories on June 30 were: $13,000 7,300 6,400...
Cost of goods sold budget Pasadena Candle Inc. A budget of estimated unit production.budgeted production of...
Cost of goods sold budget Pasadena Candle Inc. A budget of estimated unit production.budgeted production of 785,000 candles for the year. Each candle requires molding. Assume that six minutes are required to mold each candle. If molding labor costs $18 per hour, determine the direct labor cost budget for the year. Wax is required to produce a candle. Assume 487,125 pounds of material will be purchased during the year. If candle wax costs $1.24 per pound, determine the direct materials...
OBJ.4 EX 22-16 Cost of goods sold budget ✓ Cost of goods sold, Dover Chemical Company...
OBJ.4 EX 22-16 Cost of goods sold budget ✓ Cost of goods sold, Dover Chemical Company uses oil to produce two types of plastic products, P1 and P2. $2,954,700 Dover budgeted 30,000 barrels of oil for purchase in April for $78 per barrel. Direct labor budgeted in the chemical process was $240,000 for April. Factory overhead was budgeted $375,000 during April. The inventories on April 1 were estimated to be: Oil ........ P1........... P2.... Work in process ........... $15,800 9,800...
Preparing a Cost of Goods Sold Budget Andrews Company manufactures a line of office chairs. Each...
Preparing a Cost of Goods Sold Budget Andrews Company manufactures a line of office chairs. Each chair takes $14 of direct materials and uses 1.9 direct labor hours at $16 per direct labor hour. The variable overhead rate is $1.20 per direct labor hour, and the fixed overhead rate is $1.60 per direct labor hour. Andrews expects to produce 20,000 chairs next year and expects to have 675 chairs in ending inventory. There is no beginning inventory of office chairs....
Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts...
Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,200 units will be produced, with the following total costs: Direct materials ? Direct labor 58,000 Variable overhead 21,000 Fixed overhead 245,000 Next year, Pietro expects to purchase $128,000 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as fu Direct materials Work-in-Process Inventory Inventory Beginning $7,000 $14,000 Ending $6,900 $16,000 Pietro expects to produce 50,...
Preparing a Cost of Goods Sold Budget Andrews Company manufactures a line of office chairs. Each chair takes $20 o...
Preparing a Cost of Goods Sold Budget Andrews Company manufactures a line of office chairs. Each chair takes $20 of direct materials and uses 1.9 direct labor hours at $12 per direct labor hour. The variable overhead rate is $1.20 per direct labor hour, and the forced overhead rate is $1.40 per direct labor hour. Andrews Company expects to produce 20,000 chairs next year and expects to have 610 chairs in ending inventory. There is no beginning inventory of chairs....
Cost of Goods Sold, Cost of Goods Manufactured Timbuk 3 Company has the following information for...
Cost of Goods Sold, Cost of Goods Manufactured Timbuk 3 Company has the following information for March: $21,000 54,250 35,000 Cost of direct materials used in production Direct labor Factory overhead Work in process inventory, March 1 Work in process inventory, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 87,500 92,750 36,750 42,000 a. For March, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Timbuk 3...
Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts...
Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,500 units will be produced, with the following total costs: Direct materials ? Direct labor 51,000 Variable overhead 19,000 Fixed overhead 200,000 Next year, Pietro expects to purchase $129,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Inventory Work-in-Process Inventory Beginning $6,000 $14,000 Ending $5,900 $16,000 Pietro expects to produce 50,500...
Cost of Goods Sold Budget Delaware Chemical Company uses oll to produce two types of plastic products, Pl and P2. Delaware budgeted 21,000 barrels of oil for purchase in June for $62 per barrel. Direct labor budgeted in the chemical process was $169,300 for June. Factory overhead was budgeted at $234,400 during June. The inventories on June 1 were estimated to be: $11,900 NOWN 8,000 6,800 Work in process 9,800 The desired inventories on June 30 were: $13,000 7,300 6,400...
OBJ.4 EX 22-16 Cost of goods sold budget ✓ Cost of goods sold, Dover Chemical Company uses oil to produce two types of plastic products, P1 and P2. $2,954,700 Dover budgeted 30,000 barrels of oil for purchase in April for $78 per barrel. Direct labor budgeted in the chemical process was $240,000 for April. Factory overhead was budgeted $375,000 during April. The inventories on April 1 were estimated to be: Oil ........ P1........... P2.... Work in process ........... $15,800 9,800...
Preparing a Cost of Goods Sold Budget Andrews Company manufactures a line of office chairs. Each chair takes $14 of direct materials and uses 1.9 direct labor hours at $16 per direct labor hour. The variable overhead rate is $1.20 per direct labor hour, and the fixed overhead rate is $1.60 per direct labor hour. Andrews expects to produce 20,000 chairs next year and expects to have 675 chairs in ending inventory. There is no beginning inventory of office chairs....
Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,200 units will be produced, with the following total costs: Direct materials ? Direct labor 58,000 Variable overhead 21,000 Fixed overhead 245,000 Next year, Pietro expects to purchase $128,000 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as fu Direct materials Work-in-Process Inventory Inventory Beginning $7,000 $14,000 Ending $6,900 $16,000 Pietro expects to produce 50,...
Preparing a Cost of Goods Sold Budget Andrews Company manufactures a line of office chairs. Each chair takes $20 of direct materials and uses 1.9 direct labor hours at $12 per direct labor hour. The variable overhead rate is $1.20 per direct labor hour, and the forced overhead rate is $1.40 per direct labor hour. Andrews Company expects to produce 20,000 chairs next year and expects to have 610 chairs in ending inventory. There is no beginning inventory of chairs....
Cost of Goods Sold, Cost of Goods Manufactured Timbuk 3 Company has the following information for March: $21,000 54,250 35,000 Cost of direct materials used in production Direct labor Factory overhead Work in process inventory, March 1 Work in process inventory, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 87,500 92,750 36,750 42,000 a. For March, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Timbuk 3...
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