The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company:
Work in process inventory |
$0 |
|
Raw materials inventory |
$ 28,400 |
|
Finished goods inventory |
$40,200 |
Additional data:
1. Actual manufacturing overhead for January amounted to
$ 67,900.
2. Total direct labor cost for January was
$ 63,000.
3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for
$ 240,000
of direct labor cost and
$ 336,000
of manufacturing overhead costs.4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were
$ 5,600
(1,500 direct labor hours) and total direct material charges were
$ 14,900
5. Cost of direct materials placed in production during January totaled
$ 123,800
There were no indirect material requisitions during January.6. January 31 balance in raw materials inventory was
$ 35,000
7. Finished goods inventory balance on January 31 was
$ 35,300
What is the unadjusted cost of goods sold for January?
The following account balances at the beginning of January were selected from the general ledger of...
The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company Work in process inventory Raw materials inventory Finished goods inventory $0 $28,800 $40,700 Additional data: 1. Actual manufacturing overhead for January amounted to $64,900. 2. Total direct labor cost for January was $63,300. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $240,000 of direct labor cost and $336,000 of...
The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company: Work in process inventory $0 Raw materials inventory $ 28 comma 400$28,400 Finished goods inventory $ 40 comma 500$40,500 Additional data: 1. Actual manufacturing overhead for January amounted to $67,400. 2. The total direct labor cost for January was $63,700. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $248,000...
The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company: Work in process inventory Raw materials inventory Finished goods inventory $0 $28.900 $40,800 (Click the icon to view additional data.) More Info What is the unadjusted cost of goods sold for January? O A. $317,200 O B. $252,300 O C. $201,571 OD. $226,500 Additional data: 1. Actual manufacturing overhead for January amounted to $63,000. 2. Total direct labor cost for...
The following account balances at the beginning of January were selected from the general ledger of Frozen Juice Manufacturing Company: Work in process inventory $0 Raw materials inventory $28,600 Finished goods inventory $41,000 Additional data: 1. Actual manufacturing overhead for January amounted to $67,200. 2. Total direct labor cost for January was $63,100. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $251,000 of direct labor cost and $301,200 of...
Work in process inventory Raw materials inventory Finished goods inventory S0 S28,500 S40,800 Additional data: 1. Actual manufacturing overhead for January amounted to $67,000 2. Total direct labor cost for January was $63,200 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $250,000 of direct labor cost and $350,000 of manufacturing overhead costs. 4. The only job unfinished on January 31 was Job No. 151, for which total direct labor...
The following selected account balances are provided for Delray Mfg. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,062,000 38,000 54,100 66,100 165,900 231,000 19,800 45,000 5, 250 56,000 81,000 137,000 48,000 40,200 70,400 Schedule...
Required information The following selected account balances are provided for Delray Mfg. $ Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 1,275,000 42,000 51,600 66,000 167,000 226,000 16,600 41,000 5,250 53,000 98,000 138,000 46,900 47,200 67,900...
The following information is from ABC Company’s general ledger:
Beginning and ending inventories, respectively, for raw materials
were $9,600 and $11,600 and for work in process were $21,600 and
$23,600. Raw material purchases and direct labor costs incurred
were $37,600 each, and manufacturing overhead applied amounted to
$21,600.
Required: Prepare a statement of cost of goods
manufactured for ABC Company. (Amounts to be deducted
should be indicated by a minus sign.)
The following information is from ABC Company's general ledger:...
Required information The following selected account balances are provided for Delray Mfg. $ Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 1,020,000 39,000 60,000 60,900 191, 100 239,000 23,400 55,000 5,250 55,000 89,000 142,000 42,200 38,200...
Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30 Raw materials $ 26,500 $ 32,000 Finished Goods $ 76,000 $ 68,000 Work in Process $ 14,500 $ 16,654 During May, $59,500 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $12 per direct labor-hour, and it paid its direct labor workers $15 per hour. A total of 320 hours of...