Cost of Goods Manufactured and Cost of goods sold |
|||
Beginning Work in process |
$ 17,000.00 |
||
Direct materials used |
|||
Raw material Inventory Beginning |
$ 21,000.00 |
||
Raw material Purchased |
$ 76,000.00 |
||
Raw material available for use |
$ 97,000.00 |
||
Less: Raw material Inventory Ending |
$ 35,000.00 |
||
Direct Material Used (Answer to question 9) |
$ 62,000.00 |
||
Direct labor |
$ 81,000.00 |
||
Manufacturing Overheads |
$ 42,000.00 |
||
Total manufacturing cost incurred during the year |
$ 1,85,000.00 |
||
Total manufacturing cost to account for (Answer to question 10) |
$ 2,02,000.00 |
||
Less: Ending WIP inventory |
$ 19,000.00 |
||
Cost of goods manufactured (Answer to question 11) |
$ 1,83,000.00 |
||
Add: Beginning Finished goods inventory |
$ 46,000.00 |
||
Goods available for sale |
$ 2,29,000.00 |
||
Less: Ending Finished goods inventory |
$ 38,000.00 |
||
Cost of goods sold (Answer to question 12) |
$ 1,91,000.00 |
Income statement |
|
Sales |
$ 4,50,000.00 |
Less: Cost of Goods sold |
$ 1,91,000.00 |
Gross profit (Answer to question 13) |
$ 2,59,000.00 |
Selling and administrative expenses |
$ 1,37,000.00 |
Net operating income (Answer to question 14) |
$ 1,22,000.00 |
Cost of goods manufactured |
$ 1,83,000.00 |
Units manufactured |
500 |
Unit product cost (Answer to question 15) |
$ 366.00 |
Knobloch Corporation has provided the following data for the month of November. 500 units were manufactured...
Bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning Ending Raw materials $25,000 $21,000 Work in process $17,000 $10,000 Finished Goods $48,000 $56,000 Additional information: Raw materials purchases $72,000 Direct labor cost $92,000 Manufacturing overhead cost incurred $42,000 Indirect materials included in manufacturing overhead cost incurred $ 4,000 Manufacturing overhead cost applied to Work in Process $41,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule...
Bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning Ending Raw materials.......... $25,000 $21,000 Work in process....... $17,000 $10,000 Finished goods......... $48,000 $56,000 Additional information: Raw materials purchases.......................................... $72,000 Direct labor cost...................................................... $92,000 Manufacturing overhead cost incurred....................... $42,000 Indirect materials included in manufacturing overhead cost incurred........................................................ $4,000 Manufacturing overhead cost applied to Work in Process................................................................ $41,000 Required: Please show all the calculation needed to prepare the following requirements 1- Prepare a Schedule of Cost of...
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...
Bledsoe Corporation has provided the following data for the month of November: Inventories: Raw materials Work in process Finished Goods Beginning Ending $ 25,500 $ 21,500 $ 17,500 $ 10,500 $ 48,500 $56,500 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 $ 72,500 $92,500 $42,550 $ 4,050 $41,500 Any underapplied or overapplied manufacturing overhead is closed out to cost of...
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:...
Bledsoe Corporation has provided the following data for the month of November: 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 cont 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:...
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: Beginning Ending Raw materials $ 25,700 $ 21,700 Work in process $ 17,700 $ 10,700 Finished Goods $ 48,700 $ 56,700 Additional information: Raw materials purchases $ 72,700 Direct labor cost $ 92,700 Manufacturing overhead cost incurred $ 42,770 Indirect materials included in manufacturing overhead cost incurred $ 4,070 Manufacturing overhead cost applied to Work in Process $ 41,700 Any underapplied or overapplied manufacturing overhead is closed...
Bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning Ending Raw materials $ 25,700 $ 21,700 Work in process $ 17,700 $ 10,700 Finished Goods $ 48,700 $ 56,700 Additional information: Raw materials purchases $ 72,700 Direct labor cost $ 92,700 Manufacturing overhead cost incurred $ 42,770 Indirect materials included in manufacturing overhead cost incurred $ 4,070 Manufacturing overhead cost applied to Work in Process $ 41,700 Any underapplied or overapplied manufacturing overhead is closed...
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials $ 26,700 $ 22,700 Work in process $ 18,700 $ 11,700 Finished Goods $ 49,700 $ 57,700 Additional information: Raw materials purchases $ 73,700 Direct labor cost $ 93,700 Manufacturing overhead cost incurred $ 43,870 Indirect materials included in manufacturing overhead cost incurred $ 4,170 Manufacturing overhead cost applied to Work in Process $ 42,700 Any underapplied or overapplied manufacturing overhead is closed out...