Solution
Current manufacturing costs = Direct Materials + Direct labor + Manufacturing overhead
Direct Materials | $208,500 |
Direct labor | $155,200 |
Manufacturing overhead | $166,700 |
Current manufacturing costs | $530,400 |
Cost of goods manufactured = Beginning work in process inventory + Current manufacturing costs - Ending work in process inventory
$527,700 = $39,000 + $530,400 - ending work in process inventory
So, now enjoying work in process inventory =$569,400 - $527,700 =$41,700
The ending work in process inventory balance on 12/31 =$41,700
Santos Inc. had the following information for the preceding year Beginning Ending Inventory Inventory (1/1) (12/31)....
Santos Inc. had the following information for the preceding year: Beginning Inventory (1/1) Ending Inventory (12/31) Raw Materials Inventory $ 45,600 $ 32,500 Work in Process Inventory $ 37,900 $ ?? Finished Goods Inventory $ 33,200 $ ?? Additional information for the year is as follows: Direct materials used $ 209,300 Direct labor $ 158,500 Manufacturing overhead applied $ 162,200 Cost of goods manufactured $ 525,200 Unadjusted cost of goods sold $ 544,000 What was the ending Finished Goods Inventory...
Santos Inc. had the following information for the preceding year: Beginning Ending Inventory Inventory (1/1) (12/31) $ 49,000 $ 31,300 $ 38,000 $ ?? $ 30,500 $ ?? Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Additional information for the year is as follows: Direct materials used Direct labor Manufacturing overhead applied Cost of goods manufactured Cost of goods sold $205,700 $157,200 $167,000 $527,000 $553,700 What was the ending Work in Process Inventory balance on 12/31? What was...
Santos Inc had the following information for the preceding year: Beginning Ending Inventory Inventory 43,200 30,800 31,500 ?? (12/31) Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $40,300 $ ?? Additional information for the year is as follows: Direct materials used Direct labor Manufacturing overhead applied Cost of goods manufactured Cost of goods sold $203,900 $157,700 167,500 $533,200 $551,800 What was the ending Work in Process Inventory balance on 12/31? O $54,800 O $36,200 O $58,900 O $14,500
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:!! Apps Ed Yesmovies Hawkes learning Blackboard Learn Welcome-my-utrgv ㄥㄧˋ Santos Inc had the following information for the preceding year Beginning Inventory Inventory (12/31) Raw Materials Inventory Work in Process Inventory Finished Goods Inventory S 42.700 $ 32,600 s 39000 $ m S 34,000 $ ?? Additional information for the year is as follows Direct materials used Direct labor Manufacturing overhead applied Cost of goods manufactured Cost of goods sold $208.500 S 155.200 $ 166.700 $ 527700 $ 551,800 What...
McGown Corp has the following information: Beginning Inventory (1/1) Ending Inventory (12/31) Raw Materials Inventory $ 24,900 $ 33,400 Work in Process Inventory $ 22,700 $ 23,300 Finished Goods Inventory $ 33,200 $ 23,800 Additional information for the year is as follows: Raw materials purchases $ 101,200 Direct labor $ 83,300 Manufacturing overhead applied $ 89,100 Indirect materials $ 0 Compute the unadjusted cost of goods sold. $273,900 $264,500 $274,500 $147,200
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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...