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CHAPTER 1 The following inventory data...
Beginning 20,000 work in process inventory materials used Plus: Direct Beginning raw materials inventory Purchases of...
Beginning 20,000 work in process inventory materials used Plus: Direct Beginning raw materials inventory Purchases of materials 51,000 Available for use 77,000 (26,000) Ending raw materials inventory Direct materials used Direct labor 49,000 costs 173,000 Manufacturing overhead Total manufacturing incurred during the month Total manufacturing to account for Less: Ending work in process inventory Cost of goods manufactured costs (21,000) Elly Manufacturing Company Income Statement Month Ended June 30 Sales revenue Cost of goods sold: Beginning finished goods inventory Cost...
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory...
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 21.800 32,800 5,800 December 31 KEnding) $ 24,600 28,900 6,700 Direct materials used during the year amount to $45,500 and the cost of goods sold for the year was $53,100. Required: Prepare a cost of goods sold statement. TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: Direct materials:...
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished...
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 21,500 32,900 5,800 December 31 (Ending) $ 25,200 28,800 7,000 Direct materials used during the year amount to $46,200 and the cost of goods sold for the year was $53,200. Required: Prepare a cost of goods sold statement. 32,900 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: Direct...
E1-9 L04 LO5 Determining materials, labor, and cost of goods sold The following inventory data relate...
E1-9 L04 LO5 Determining materials, labor, and cost of goods sold The following inventory data relate to Edwards, Inc.: Inventories Ending Beginning Finished goods.. $75,000 $110,000 Work in process 80,000 70,000 Direct materials...... 95,000 90,000 Revenues and Costs for the Period: Sales $900,000 Cost of goods available for sale 775,000 Total manufacturing costs 675,000 Factory overhead 175,000 Direct materials used 205,000 Calculate the following for the year: a. Direct materials purchased. b. Direct labor costs incurred. c. Cost of goods...
Check my work 1 Fox Company manufactures soccer balls in two sequential processes: Cutting and Stitching....
Check my work 1 Fox Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Beginning Inventory $ 86, 000 203, 500 223, 300 180, 100 Ending Inventory $104, 050 59, 500 140, 500 40, 250 15 points Raw materials inventory Work in process inventory Cutting Work in process inventoryStitching Finished goods inventory еВook Print The following additional...
Please assist with part B. The red boxes are wrong. Thank you! Current Attempt in Progress...
Please assist with part B. The
red boxes are wrong. Thank you!
Current Attempt in Progress Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,420 Factory utilities $410 Direct materials used 22,300 Depreciation, factory equipment 1,560 Work in process, 6/1/20 3,620 Direct labor 42,630 Work in process, 6/30/20 4,630 Maintenance, factory equipment 1,990 Finished goods, 6/1/20 5,310 Indirect materials 2,120 Finished goods, 6/30/20 8 ,420 Factory manager's salary 3,150 CEPEDA CORPORATION Cost of Goods Manufactured...
The following balances are from the accounts of Crabtree Machining Company Direct materials inventory Work-in-process inventory...
The following balances are from the accounts of Crabtree Machining Company Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 98,600 109,300 42,300 December 31 (Ending) $ 109,500 107,400 45,100 Direct materials purchased during the year amount to $514,200, and the cost of goods sold for the year was $1,865,000 Required: Prepare a cost of goods sold statement. $ 109,300 CRABTREE MACHINING COMPANY Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory...
Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Inventory...
Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Inventory $126,000 283,500 303,300 260,100 Ending Inventory $ 153,250 63,500 180,500 56,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching $ 145,000 27,750 0 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 27,600 110,400 197,800 Factory Overhead (Actual costs) Indirect materials used Indirect labor...
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...
The following balances are from the accounts of Tappan Parts January 1 Direct materials inventory Work-in-process...
The following balances are from the accounts of Tappan Parts January 1 Direct materials inventory Work-in-process inventory Finished goods inventory $ 22,400 32,200 5,209 December 31 (Endint) $ 24,889 29,200 6,600 Direct materials used during the year amount to $45,700 and the cost of goods sold for the year was $52,600. Required: Prepare a cost of goods sold statement. Manufacturing costs Direct materials Materials available Direct materials used Total manufacturing costs Total costs of work-in-process Cost of goods manufactured Required:...
Beginning 20,000 work in process inventory materials used Plus: Direct Beginning raw materials inventory Purchases of materials 51,000 Available for use 77,000 (26,000) Ending raw materials inventory Direct materials used Direct labor 49,000 costs 173,000 Manufacturing overhead Total manufacturing incurred during the month Total manufacturing to account for Less: Ending work in process inventory Cost of goods manufactured costs (21,000) Elly Manufacturing Company Income Statement Month Ended June 30 Sales revenue Cost of goods sold: Beginning finished goods inventory Cost...
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 21.800 32,800 5,800 December 31 KEnding) $ 24,600 28,900 6,700 Direct materials used during the year amount to $45,500 and the cost of goods sold for the year was $53,100. Required: Prepare a cost of goods sold statement. TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: Direct materials:...
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 21,500 32,900 5,800 December 31 (Ending) $ 25,200 28,800 7,000 Direct materials used during the year amount to $46,200 and the cost of goods sold for the year was $53,200. Required: Prepare a cost of goods sold statement. 32,900 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: Direct...
E1-9 L04 LO5 Determining materials, labor, and cost of goods sold The following inventory data relate to Edwards, Inc.: Inventories Ending Beginning Finished goods.. $75,000 $110,000 Work in process 80,000 70,000 Direct materials...... 95,000 90,000 Revenues and Costs for the Period: Sales $900,000 Cost of goods available for sale 775,000 Total manufacturing costs 675,000 Factory overhead 175,000 Direct materials used 205,000 Calculate the following for the year: a. Direct materials purchased. b. Direct labor costs incurred. c. Cost of goods...
Check my work 1 Fox Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Beginning Inventory $ 86, 000 203, 500 223, 300 180, 100 Ending Inventory $104, 050 59, 500 140, 500 40, 250 15 points Raw materials inventory Work in process inventory Cutting Work in process inventoryStitching Finished goods inventory еВook Print The following additional...
Please assist with part B. The
red boxes are wrong. Thank you!
Current Attempt in Progress Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,420 Factory utilities $410 Direct materials used 22,300 Depreciation, factory equipment 1,560 Work in process, 6/1/20 3,620 Direct labor 42,630 Work in process, 6/30/20 4,630 Maintenance, factory equipment 1,990 Finished goods, 6/1/20 5,310 Indirect materials 2,120 Finished goods, 6/30/20 8 ,420 Factory manager's salary 3,150 CEPEDA CORPORATION Cost of Goods Manufactured...
The following balances are from the accounts of Crabtree Machining Company Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 98,600 109,300 42,300 December 31 (Ending) $ 109,500 107,400 45,100 Direct materials purchased during the year amount to $514,200, and the cost of goods sold for the year was $1,865,000 Required: Prepare a cost of goods sold statement. $ 109,300 CRABTREE MACHINING COMPANY Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory...
Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Inventory $126,000 283,500 303,300 260,100 Ending Inventory $ 153,250 63,500 180,500 56,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching $ 145,000 27,750 0 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 27,600 110,400 197,800 Factory Overhead (Actual costs) Indirect materials used Indirect labor...
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...
The following balances are from the accounts of Tappan Parts January 1 Direct materials inventory Work-in-process inventory Finished goods inventory $ 22,400 32,200 5,209 December 31 (Endint) $ 24,889 29,200 6,600 Direct materials used during the year amount to $45,700 and the cost of goods sold for the year was $52,600. Required: Prepare a cost of goods sold statement. Manufacturing costs Direct materials Materials available Direct materials used Total manufacturing costs Total costs of work-in-process Cost of goods manufactured Required:...
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