Homework Answers
Solution
| Schedule of Cost of Goods Manufactured | ||
| Direct Material | ||
| Raw material Inventory Beginning | $ 28,900.00 | |
| Raw material Purchased | $ 119,500.00 | |
| Raw material available for use | $ 148,400.00 | |
| Less: Raw material Inventory Ending | $ 24,800.00 | |
| Direct Material Used | $ 123,600.00 | |
| Direct labor | $ 162,500.00 | |
| Manufacturing overheads | $ 22,600.00 | |
| Total manufacturing Costs | $ 308,700.00 | |
| Plus: Beginning Work in process | $ 44,000.00 | |
| Total Work in Process | $ 352,700.00 | |
| Minus: Ending Work in progress | $ 46,200.00 | |
| Cost of Goods Manufactured | $ 306,500.00 | |
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Required: Supply the missing information on the following schedule of cost of goods manufactured. Schedule of...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2018 Raw materials Beginning inventory Plus: Purchases 118,100 Raw materials available for use $ 149,100 Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in process inventory Cost of goods...
Required Supply the missing information on the following schedule of cost of goods manufactured. BOULDER CORPORATION...
Required Supply the missing information on the following schedule of cost of goods manufactured. BOULDER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, Year 2 Raw materials Beginning inventory Plus: Purchases Raw materials available for use Minus: Ending raw materials inventory 240,000 296,000 $ Cost of direct raw materials used $ 248,000 Direct labor 48,000 648,000 Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2018 Raw materials Beginning inventory Plus: Purchases 118,400 Raw materials available for use $ 148,300 $ 148,300 Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in process inventory Cost...
Use the following information to complete a schedule of cost of goods manufactured and a cost...
Use the following information to complete a schedule of cost of goods manufactured and a cost of goods sold schedule: Given Info Beginning $8,000 $16,000 $40,000 Ending $13,000 $21,000 $60,000 Raw Materials Inv. Work in Process Inv. Finished Good Inv. Purchase of Raw Materials Direct Labor Manufacturing Overhead Applied $100,000 $80,000 $110,000 Calculate Direct Materials: Direct Materials Calculation Costs Raw Materials, Beginning $ +Raw Materials Purchased $ =Raw Materials Available GA -Raw Materials, Ending $ =Direct Materials $ Calculate Total...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data:...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data: Raw Materials Inventory, Jan. 1 $10 Raw Materials Inventory, Dec. 31 Work-in-Process Inventory, Jan. 1 Work-in-Process Inventory, Dec. 31 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Raw Materials Purchased, incl. freight 30 Direct Labor 40 Manufacturing (factory) Overhead Schedule of Costs of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Direct Materials Used: Beginning Raw Materials Inventory Purchased of Raw...
Exercise 181 Fill in the missing information on the cost of goods manufactured schedule of Noland...
Exercise 181 Fill in the missing information on the cost of goods manufactured schedule of Noland Manufacturing Company: NOLAND MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2016 Work in process (1/1) Direct materials Raw materials inventory (1/1) $340,000 Raw materials purchases 246,000 Raw materials available for use 37,000 Raw materials inventory (12/31) Direct materials used $255,000 Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities 19,000 38,000 39,000 Total overhead Total manufacturing costs...
The following shows the Schedule of Direct Materials Used, Cost of Goods Manufactured Cost of Goods...
The following shows the Schedule of Direct Materials Used, Cost of Goods Manufactured Cost of Goods Sold and Income Statement. Fill in the missing amounts for blanks 11 to 18 below. Beginning inventory, raw material. ..............11. ? Ending inventory, raw material .................. Purchase of raw material ...... 100,000 Direct material used. ... 70,000 Direct labour ......... ..................12. Manufacturing overhead ........ 250,000 Total manufacturing costs ........ 520,000 Beginning inventory, work in process.......... 35,000 Ending inventory, work in process .............. 13. Cost...
4) In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost...
4) In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost of goods manufactured is computed according to which of the following equations? A) Cost of goods manufactured = Total manufacturing costs + Ending work in process inventory - Beginning work in process inventory B) Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory - Ending work in process inventory C) Cost of goods manufactured = Total manufacturing costs +...
Certain iter descriptions and amounts are missing from the monthly schedule of cost of goods manufactured...
Certain iter descriptions and amounts are missing from the monthly schedule of cost of goods manufactured and income statement of Elly Manufacturing Company Click the icon to view the schedule of cost of goods manufactured.) (Click the icon to view the income statement.) Fill in the blanks with the missing words, and replace the Xs with the correct amounts. Now we will fill in the missing information on the income statement. Select the heading, then complete the statement Elly Manufacturing...
E14.9 (LO 3) An incomplete cost of goods manufactured schedule is presented below. Determine missing amounts...
E14.9 (LO 3) An incomplete cost of goods manufactured schedule is presented below. Determine missing amounts in cost of goods manufactured schedule. $210,000 Hobbit Company Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 Work in process (1/1) Direct materials Raw materials inventory (1/1) $ ? Add: Raw materials purchases 158,000 Total raw materials available for use Less: Raw materials inventory (12/31) 22,500 Direct materials used $180,000 Direct labor Manufacturing overhead Indirect labor 18,000 Factory depreciation 36,000...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2018 Raw materials Beginning inventory Plus: Purchases 118,100 Raw materials available for use $ 149,100 Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in process inventory Cost of goods...
Required Supply the missing information on the following schedule of cost of goods manufactured. BOULDER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, Year 2 Raw materials Beginning inventory Plus: Purchases Raw materials available for use Minus: Ending raw materials inventory 240,000 296,000 $ Cost of direct raw materials used $ 248,000 Direct labor 48,000 648,000 Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2018 Raw materials Beginning inventory Plus: Purchases 118,400 Raw materials available for use $ 148,300 $ 148,300 Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in process inventory Cost...
Use the following information to complete a schedule of cost of goods manufactured and a cost of goods sold schedule: Given Info Beginning $8,000 $16,000 $40,000 Ending $13,000 $21,000 $60,000 Raw Materials Inv. Work in Process Inv. Finished Good Inv. Purchase of Raw Materials Direct Labor Manufacturing Overhead Applied $100,000 $80,000 $110,000 Calculate Direct Materials: Direct Materials Calculation Costs Raw Materials, Beginning $ +Raw Materials Purchased $ =Raw Materials Available GA -Raw Materials, Ending $ =Direct Materials $ Calculate Total...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data: Raw Materials Inventory, Jan. 1 $10 Raw Materials Inventory, Dec. 31 Work-in-Process Inventory, Jan. 1 Work-in-Process Inventory, Dec. 31 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Raw Materials Purchased, incl. freight 30 Direct Labor 40 Manufacturing (factory) Overhead Schedule of Costs of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Direct Materials Used: Beginning Raw Materials Inventory Purchased of Raw...
Exercise 181 Fill in the missing information on the cost of goods manufactured schedule of Noland Manufacturing Company: NOLAND MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2016 Work in process (1/1) Direct materials Raw materials inventory (1/1) $340,000 Raw materials purchases 246,000 Raw materials available for use 37,000 Raw materials inventory (12/31) Direct materials used $255,000 Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities 19,000 38,000 39,000 Total overhead Total manufacturing costs...
The following shows the Schedule of Direct Materials Used, Cost of Goods Manufactured Cost of Goods Sold and Income Statement. Fill in the missing amounts for blanks 11 to 18 below. Beginning inventory, raw material. ..............11. ? Ending inventory, raw material .................. Purchase of raw material ...... 100,000 Direct material used. ... 70,000 Direct labour ......... ..................12. Manufacturing overhead ........ 250,000 Total manufacturing costs ........ 520,000 Beginning inventory, work in process.......... 35,000 Ending inventory, work in process .............. 13. Cost...
4) In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost of goods manufactured is computed according to which of the following equations? A) Cost of goods manufactured = Total manufacturing costs + Ending work in process inventory - Beginning work in process inventory B) Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory - Ending work in process inventory C) Cost of goods manufactured = Total manufacturing costs +...
Certain iter descriptions and amounts are missing from the monthly schedule of cost of goods manufactured and income statement of Elly Manufacturing Company Click the icon to view the schedule of cost of goods manufactured.) (Click the icon to view the income statement.) Fill in the blanks with the missing words, and replace the Xs with the correct amounts. Now we will fill in the missing information on the income statement. Select the heading, then complete the statement Elly Manufacturing...
E14.9 (LO 3) An incomplete cost of goods manufactured schedule is presented below. Determine missing amounts in cost of goods manufactured schedule. $210,000 Hobbit Company Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 Work in process (1/1) Direct materials Raw materials inventory (1/1) $ ? Add: Raw materials purchases 158,000 Total raw materials available for use Less: Raw materials inventory (12/31) 22,500 Direct materials used $180,000 Direct labor Manufacturing overhead Indirect labor 18,000 Factory depreciation 36,000...
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