Garrett Corporation provided the following information for the year: Beginning Balance Work-in-Process Inventory — $25,000 Ending...
Garrett Corporation provided the following information for the year: Beginning Balance Work-in-Process Inventory — $25,000 Ending Balance Work-in-Process Inventory — 58,000 Beginning Balance Direct Materials — 87,000 Ending Balance Direct Materials — 61,000 Purchases Direct Materials — 357,000 Direct Labor 468,000 Indirect Labor 20,000 Depreciation on Factory Plant and Equipment 24,000 Plant Utilities and Insurance 270,000
What was the amount of direct materials used in production during the year? A. $825,000 B. $67,000 C. $357,000 D. $383,000
Homework Answers
If it is helpful, please rate the answer and if any doubt arises let me know
| Correct option is: D. $383,000 | ||
| Workings: | ||
| Direct Material Inventory beginning | $ 87,000 | |
| Add: | Purchases of Direct Material | $ 3,57,000 |
| Total Direct Material available | $ 4,44,000 | |
| Deduct: | Direct Material Inventory ending | $ 61,000 |
| Direct Material used in production | $ 3,83,000 | |
Add Answer to:
Garrett Corporation provided the following information for the
year: Beginning Balance Work-in-Process Inventory — $25,000 Ending...
Payton Corporation provided the following information for the year. Beginning Balance-Work-in-Process Inventory Ending Balance-Work-in-Process Inventory Beginning...
Payton Corporation provided the following information for the year. Beginning Balance-Work-in-Process Inventory Ending Balance-Work-in-Process Inventory Beginning Balance-Direct Materials Ending Balance—Direct Materials Purchases-Direct Materials Direct Labor Indirect Labor Depreciation on Factory Plant and Equipment Plant Utilities and Insurance $28,000 55,000 84,000 60,000 356,000 470,000 20,000 24,000 269,000 What was the amount of the cost of goods manufactured for the year? O A. $1,366,000 OB. $1,136,000 OC. $1,190,000 OD $1,163,000
Q.4 Malibu Corporation provided the following information for the year: Beginning Balance -Work-in-Process Inventory Ending Balance...
Q.4 Malibu Corporation provided the following information for the year: Beginning Balance -Work-in-Process Inventory Ending Balance - Work-in-Process Inventory Beginning Balance - Raw Materials Inventory Ending Balance - Raw Materials Inventory Purchases - Raw Materials Direct Labor Indirect Labor Depreciation on Factory Plant and Equipment Plant Utilities and Insurance $26,000 55,000 81,000 59,000 360,000 471,000 19,000 24,000 268,000
Quinton Corporation provided the following information for the year. Beginning Balance-Work-in-Process Inventory Ending Balance-Work-in-Process Inventory Beginning...
Quinton Corporation provided the following information for the year. Beginning Balance-Work-in-Process Inventory Ending Balance-Work-in-Process Inventory Beginning Balance-Direct Materials Ending Balance-Direct Materials Purchases-Direct Materials Direct Labor Indirect Labor Depreciation on Factory Plant and Equipment Plant Utilities and Insurance $27,000 56,000 80,000 60,000 361,000 469,000 20,000 23,000 268,000 What was the total manufacturing costs incurred during the year? O A. $1,161,000 OB. $850,000 OC. $692,000 OD. $311,000
Am I correct ? Payton Corporation provided the following information for the year: Beginning Balance-Work-in-Process Inventory...
Am I correct ?
Payton Corporation provided the following information for the year: Beginning Balance-Work-in-Process Inventory Ending Balance -Work-in-Process Inventory Beginning Balance-Direct Materials $26,000 55,000 Ending Balance- Direct Materials Purchases Direct Materials Direct Labor Indirect Labor Depreciation on Factory Plant and Equipment Plant Utilities and Insurance 81,000 59,000 360,000 471,000 19,000 24,000 268,000 What was the amount of the cost of goods manufactured for the year? O A. $1,193,000 OB. $1,164,000 ??. $1,135,000 D. $1,363,000
Arturo Manufacturing, Inc. provided the following information for the year: Beginning Balancelong dash—Work-in-Process Inventory $150,000 Ending...
Arturo Manufacturing, Inc. provided the following information for the year: Beginning Balancelong dash—Work-in-Process Inventory $150,000 Ending Balancelong dash—Work-in-Process Inventory 62,500 Beginning Balancelong dash— Direct Materials 269,000 Ending Balancelong dash— Direct Materials 53,700 Purchases long dash— Direct Materials 133,000 Direct Labor 74,380 Indirect Materials 52,350 Indirect Labor 132,500 Depreciation on Factory Plant and Equipment 72,160 Plant Utilities and Insurance 70,980 How much is the cost of goods manufactured?
Mars Supplies Company provided the following information for the year: Beginning Balancelong dash—Work-in-Process Inventory $ 24...
Mars Supplies Company provided the following information for the year: Beginning Balancelong dash—Work-in-Process Inventory $ 24 comma 000$24,000 Ending Balancelong dash—Work-in-Process Inventory 55 comma 00055,000 Beginning Balancelong dash— Direct Materials Inventory 85 comma 00085,000 Ending Balancelong dash— Direct Materials Inventory 62 comma 00062,000 Purchases long dash— Direct Materials 362 comma 000362,000 Direct Labor 471 comma 000471,000 Indirect Labor 18 comma 00018,000 Depreciation on Factory Plant and Equipment 22 comma 00022,000 Plant Utilities and Insurance 271 comma 000271,000 What was the...
FY16 Factory Rent $330,000 Direct Materials Inventory, Beginning 96,000 Direct Materials Inventory, Ending 87,000 Direct...
FY16 Factory Rent $330,000 Direct Materials Inventory, Beginning 96,000 Direct Materials Inventory, Ending 87,000 Direct Materials Purchases 654,000 Direct Labor-Wages 425,000 Indirect Labor-Wages 28,000 Finished Goods Inventory, Beginning 25,000 Finished Goods Inventory, Ending 44,000 Indirect Materials 66,000 Plant Utilities 40,000 General and Administrative 101,350 Work-in-Process Inventory, Beginning 27,000 Work-in-Process Inventory, Ending 33,000 Marketing Expenses 225,000 Sales Revenue 2,550,000 A. Prepare a statement of cost of goods manufactured and an income statement for the year ended December 31, 2016. B....
Hamza Corporation reported the following results for the current year: Revenue Beginning inventory, Direct Materials Ending...
Hamza Corporation reported the following results for the current year: Revenue Beginning inventory, Direct Materials Ending inventory, Direct Materials Purchases - Direct Materials Direct Labor Manufacturing Equipment Depreciation Plant Utilities Indirect Plant Labor Marketing Customer Service Beginning Work-in Process Ending Work-in-Process Beginning Finished Goods Ending Finished Goods $800,000 35,000 20,000 175.000 225,000 90,000 50,000 60,000 30,000 40,000 80,000 85,000 90,000 75,000 Based on the data above, Cost of Goods Sold equals:
Q5. Dreams Manufacturing, Inc. provided the following information for the year: Purchases Raw Materials $270.000 Plant...
Q5. Dreams Manufacturing, Inc. provided the following information for the year: Purchases Raw Materials $270.000 Plant Utilities and Insurance 202.500 Indirect Materials 35,250 Indirect Labor 14.250 Ending Balance - Work-in-Process Inventory 42.000 Ending Balance-Raw Materials Inventory 45.000 Direct Labor 352,500 Depreciation on Factory Plant and Equipment 18,000 Beginning Balance Work-in-Process Inventory 18,000 Beginning Balance Raw Materials Inventory 63,000 Required: Prepare a statement of the cost of goods manufactured using the following format: Schedule of Cost of Goods Manufactured Beginning Work-in-Process...
Q5. Dreams Manufacturing, Inc. provided the following information for the year: Purchases Raw Materials $270.000 Plant...
Q5. Dreams Manufacturing, Inc. provided the following information for the year: Purchases Raw Materials $270.000 Plant Utilities and Insurance 202.500 Indirect Materials 35,250 Indirect Labor 14.250 Ending Balance - Work-in-Process Inventory 42.000 Ending Balance-Raw Materials Inventory 45.000 Direct Labor 352,500 Depreciation on Factory Plant and Equipment 18,000 Beginning Balance Work-in-Process Inventory 18,000 Beginning Balance Raw Materials Inventory 63,000 Required: Prepare a statement of the cost of goods manufactured using the following format: Schedule of Cost of Goods Manufactured Beginning Work-in-Process...
Payton Corporation provided the following information for the year. Beginning Balance-Work-in-Process Inventory Ending Balance-Work-in-Process Inventory Beginning Balance-Direct Materials Ending Balance—Direct Materials Purchases-Direct Materials Direct Labor Indirect Labor Depreciation on Factory Plant and Equipment Plant Utilities and Insurance $28,000 55,000 84,000 60,000 356,000 470,000 20,000 24,000 269,000 What was the amount of the cost of goods manufactured for the year? O A. $1,366,000 OB. $1,136,000 OC. $1,190,000 OD $1,163,000
Q.4 Malibu Corporation provided the following information for the year: Beginning Balance -Work-in-Process Inventory Ending Balance - Work-in-Process Inventory Beginning Balance - Raw Materials Inventory Ending Balance - Raw Materials Inventory Purchases - Raw Materials Direct Labor Indirect Labor Depreciation on Factory Plant and Equipment Plant Utilities and Insurance $26,000 55,000 81,000 59,000 360,000 471,000 19,000 24,000 268,000
Quinton Corporation provided the following information for the year. Beginning Balance-Work-in-Process Inventory Ending Balance-Work-in-Process Inventory Beginning Balance-Direct Materials Ending Balance-Direct Materials Purchases-Direct Materials Direct Labor Indirect Labor Depreciation on Factory Plant and Equipment Plant Utilities and Insurance $27,000 56,000 80,000 60,000 361,000 469,000 20,000 23,000 268,000 What was the total manufacturing costs incurred during the year? O A. $1,161,000 OB. $850,000 OC. $692,000 OD. $311,000
Am I correct ?
Payton Corporation provided the following information for the year: Beginning Balance-Work-in-Process Inventory Ending Balance -Work-in-Process Inventory Beginning Balance-Direct Materials $26,000 55,000 Ending Balance- Direct Materials Purchases Direct Materials Direct Labor Indirect Labor Depreciation on Factory Plant and Equipment Plant Utilities and Insurance 81,000 59,000 360,000 471,000 19,000 24,000 268,000 What was the amount of the cost of goods manufactured for the year? O A. $1,193,000 OB. $1,164,000 ??. $1,135,000 D. $1,363,000
Hamza Corporation reported the following results for the current year: Revenue Beginning inventory, Direct Materials Ending inventory, Direct Materials Purchases - Direct Materials Direct Labor Manufacturing Equipment Depreciation Plant Utilities Indirect Plant Labor Marketing Customer Service Beginning Work-in Process Ending Work-in-Process Beginning Finished Goods Ending Finished Goods $800,000 35,000 20,000 175.000 225,000 90,000 50,000 60,000 30,000 40,000 80,000 85,000 90,000 75,000 Based on the data above, Cost of Goods Sold equals:
Q5. Dreams Manufacturing, Inc. provided the following information for the year: Purchases Raw Materials $270.000 Plant Utilities and Insurance 202.500 Indirect Materials 35,250 Indirect Labor 14.250 Ending Balance - Work-in-Process Inventory 42.000 Ending Balance-Raw Materials Inventory 45.000 Direct Labor 352,500 Depreciation on Factory Plant and Equipment 18,000 Beginning Balance Work-in-Process Inventory 18,000 Beginning Balance Raw Materials Inventory 63,000 Required: Prepare a statement of the cost of goods manufactured using the following format: Schedule of Cost of Goods Manufactured Beginning Work-in-Process...
Q5. Dreams Manufacturing, Inc. provided the following information for the year: Purchases Raw Materials $270.000 Plant Utilities and Insurance 202.500 Indirect Materials 35,250 Indirect Labor 14.250 Ending Balance - Work-in-Process Inventory 42.000 Ending Balance-Raw Materials Inventory 45.000 Direct Labor 352,500 Depreciation on Factory Plant and Equipment 18,000 Beginning Balance Work-in-Process Inventory 18,000 Beginning Balance Raw Materials Inventory 63,000 Required: Prepare a statement of the cost of goods manufactured using the following format: Schedule of Cost of Goods Manufactured Beginning Work-in-Process...
Most questions answered within 3 hours.
-
You are one of the first engineers hired into the
manufacturing engineering department at a brand...
asked 3 minutes ago -
Suppose car models A, B, and C are popular among drivers.
Suppose 12% of the drivers...
asked 21 minutes ago -
write a program that finds the number of zeros in an 8-bit data
item using assembly...
asked 21 minutes ago -
Which statement is always true: The total energy of a closed
system...
A) is always equally...
asked 35 minutes ago -
find the critical value associated with a right sided hypothesis of
the mean using a sample...
asked 2 hours ago -
Which of the following statements is true with respect to a
simple linear regression model?
a....
asked 3 hours ago -
The energy required to remove an electron from a surface of a
solid element is called...
asked 4 hours ago -
How would you train your employees to avoid risks of using
mobile devices?
asked 5 hours ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 6 hours ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 6 hours ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 7 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 8 hours ago