Cost of goods manufactured = Beginning work in process + Manufacturing cost incurred during period- closing work in process
Cost of Goods Manufactured Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts...
Cost of Goods Manufactured Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,000 units will be produced, with the following total costs: Direct materials ? Direct labor $65,000 Variable overhead 21,000 Fixed overhead 250,000 Next year, Pietro expects to purchase $121,500 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 $4,000 $12,500 Ending $3,900 $14,500 Required: Hide 1. Prepare a...
Cost of Goods Manufactured Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,000 units will be produced, with the following total costs: Direct materials? Direct labor $52,000 Variable overhead 26,000 Fixed overhead 245,000 Next year, Pietro expects to purchase $125,500 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 $4,000 $12,300 Ending $3,900 $14,300 Required: 1. Prepare a statement of...
Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 54,500 units will be produced, with the following total costs: Direct materials ? Direct labor 55,000 Variable overhead 26,000 Fixed overhead 225,000 Next year, Pietro expects to purchase $128,500 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 $5,000 $14,500 Ending $4,900 $16,500 Pietro expects to produce 54,500...
Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 54,500 units will be produced, with the following total costs: Direct materials ? Direct labor 55,000 Variable overhead 26,000 Fixed overhead 225,000 Next year, Pietro expects to purchase $128,500 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 $5,000 $14,500 Ending $4,900 $16,500 Pietro expects to produce 54,500...
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,...
Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,900 units will be produced, with the following total costs: Direct materials Direct labor Variable overhead Fixed overhead 51,000 19,000 225,000 Next year, Pietro expects to purchase $121,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Inventory $5,000 $4,900 Work-in-Process Inventory $13,400 $15,400 Beginning Ending Pietro expects to produce 50,900 units...
Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,000 units will be produced, with the following total costs: Direct materials ? Direct labor $54,000 Variable overhead 15,000 Fixed overhead 245,000 Next year, Pietro expects to purchase $124,500 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 $5,000 $10,600 Ending $4,900 $12,600 Required: 1. Prepare a statement of cost of goods...
Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 49,200 units will be produced, with the following total costs: Direct materials Direct labor Variable overhead Fixed overhead 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 follows: 53,000 23,000 225,000 Direct materials Work-in-Process Inventory $7,000 $6,900 Inventory $13,700 $15,700 Beginning Ending Pietro expects to produce 49,200 units...
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 70,000 Variable overhead 28,000 Fixed overhead 235,000 Next year, Pietro expects to purchase $117,500 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 $5,000 $12,700 Ending $4,900 $14,700 Pietro expects to produce 50,200 units and sell 49,500...
Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 54,200 units will be produced, with the following total costs: Direct materials ? Direct labor 72,000 Variable overhead 17,000 Fixed overhead 235,000 Next year, Pietro expects to purchase $117,500 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 $5,000 $14,400 Ending $4,900 $16,400 Pietro expects to produce 54,200...