Homework Answers
Answer to Requirement 1:
Direct materials used = Direct material inventory, June 1 +
Direct material purchased - Direct material inventory, June
30
Direct materials used = $48,000 + $122,000 - $45,000
Direct materials used = $125,000
Total manufacturing cost = Direct materials used + Direct labor
cost + Manufacturing overhead
Total manufacturing cost = $125,000 + $167,000 + $236,000
Total manufacturing cost = $528,000
Cost of goods manufactured = Work in process inventory, June 1 +
Total manufacturing cost - Work in process inventory, June 30
Cost of goods manufactured = $65,000 + $528,000 - $63,000
Cost of goods manufactured = $530,000
Answer to Requirement 2:
Cost per hockey stick = Cost of goods manufactured / Number of
hockey sticks produced
Cost per hockey stick = $530,000 / 1,900
Cost per hockey stick = $278.95
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Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $123,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $161,000 and manufacturing overhead of $212,000. Inventory information is as follows: June 1 June 30 Materials $48,000 $45,000 Work in process 65,000 63,000 Required: 1. Calculate the cost of goods manufactured for the month of June. $ 2. Calculate the cost of one hockey stick assuming...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the...
Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $120,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $173,000 and manufacturing overhead of $224,000. Inventory information is as follows: June 1 June 30 Materials $48,000 $45,000 Work in process 65,000 63,000 Required: 1. Calculate the cost of goods manufactured for the month of June. $ 2. Calculate the cost of one hockey stick assuming...
rogen Sports | Best Bitcoin Sp x Q Managerial Accounting Final Wo X C Cost Of...
rogen Sports | Best Bitcoin Sp x Q Managerial Accounting Final Wo X C Cost Of Goods Manufactured Slix + /ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Other bookmarks eBook Show Me How Calculator Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of $547,000. Suppose that on June 1, Slapshot had 680 units in finished goods inventory costing $160,000 and on June 30, 930 units in finished goods inventory costing $215,000. 1. Prepare...
H UULURULUI Cost of Goods Sold Slapshot Company makes ice hockey sticks. During the month of...
H UULURULUI Cost of Goods Sold Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of $525,000. Suppose that on June 1, Slapshot had 650 units in finished goods inventory costing $160,000 and on June 30, 930 units in finished goods inventory costing $215,000. 1. Prepare a cost of goods sold statement for the month of June. Slapshot Company Cost of Goods Sold Statement For the Month of...
Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at...
Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at a total cost of $433,000. Each stick sold at a price of $400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales priceand other selling expense of $65,000. Administrative expense totaled $53,800. Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of the income...
Slapshot Company makes ice hockey sticks and sold 1,700 sticks during the month of June at...
Slapshot Company makes ice hockey sticks and sold 1,700 sticks during the month of June at a total cost of S408,000. Each stick sold at a price of S400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price and other selling expense of S83,100. Administrative expense totaled $$3,800. Required: Prepare an income statement for Slapshot for the month of June. Labels and Amount Descriptions Refer to the list below for the exact wording...
antrent/a ssignat Man do invoker-StakeAssignment SessionLocator Sinprogress-false Calculator Print item Cost of Goods Sold In September,...
antrent/a ssignat Man do invoker-StakeAssignment SessionLocator Sinprogress-false Calculator Print item Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $240,000 and incurred direct labor cost of $100,000. Overhead totaled $400,000 for the month. Information on Inventories was as follows: Materials Work in process September 1 $120,000 0 .000 September 30 $130,000 90.000 0.000 65.000 Finished goods 2 0.000 Required What was the cost of goods sold for September? 685,000 X
LillyuyulUW.LUI takesiyentakeassignmentMain.dorinvoker assignments&takeAssignmentSessionLocator assignment-take&inprogress=false Calculator (Appendix 4A) Journal Entries, Job Costs Instructions Chart of Accounts Amount...
LillyuyulUW.LUI takesiyentakeassignmentMain.dorinvoker assignments&takeAssignmentSessionLocator assignment-take&inprogress=false Calculator (Appendix 4A) Journal Entries, Job Costs Instructions Chart of Accounts Amount Descriptions Journal Job-Order Cost Sheets Instructions The following transactions occurred during the month of April for Nelson Company 1 Purchased materials costing $4.610 on account 3 Requisitioned materials totaling $4,800 for use in production, $3,170 for Job 518 and the remainder for Job 519 14 Recorded 65 hours of direct labor on Job 518 and 90 hours on Job 519 for the month Direct...
only the answers please and thank you We were unable to transcribe this image8. Cost of...
only the answers please and thank you
We were unable to transcribe this image8. Cost of goods sold A) is calculated exactly the same for merchandising and manufacturing companies. B) only appears on manufacturing companies' income statements. C) appears on both manufacturing and merchandising companies' income statements. D) only appears on merchandising companies' income statements. 14. Edmiston Company reported the 1 Company reported the following year-end information: beginning work in process inventory, S80,000: cost of goods manufactured, $750,000, beginning finished...
rogen Sports | Best Bitcoin Sp x Q Managerial Accounting Final Wo X C Cost Of Goods Manufactured Slix + /ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Other bookmarks eBook Show Me How Calculator Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of $547,000. Suppose that on June 1, Slapshot had 680 units in finished goods inventory costing $160,000 and on June 30, 930 units in finished goods inventory costing $215,000. 1. Prepare...
H UULURULUI Cost of Goods Sold Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of $525,000. Suppose that on June 1, Slapshot had 650 units in finished goods inventory costing $160,000 and on June 30, 930 units in finished goods inventory costing $215,000. 1. Prepare a cost of goods sold statement for the month of June. Slapshot Company Cost of Goods Sold Statement For the Month of...
Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at a total cost of $433,000. Each stick sold at a price of $400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales priceand other selling expense of $65,000. Administrative expense totaled $53,800. Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of the income...
Slapshot Company makes ice hockey sticks and sold 1,700 sticks during the month of June at a total cost of S408,000. Each stick sold at a price of S400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price and other selling expense of S83,100. Administrative expense totaled $$3,800. Required: Prepare an income statement for Slapshot for the month of June. Labels and Amount Descriptions Refer to the list below for the exact wording...
antrent/a ssignat Man do invoker-StakeAssignment SessionLocator Sinprogress-false Calculator Print item Cost of Goods Sold In September, Lauren Ashley Company purchased materials costing $240,000 and incurred direct labor cost of $100,000. Overhead totaled $400,000 for the month. Information on Inventories was as follows: Materials Work in process September 1 $120,000 0 .000 September 30 $130,000 90.000 0.000 65.000 Finished goods 2 0.000 Required What was the cost of goods sold for September? 685,000 X
LillyuyulUW.LUI takesiyentakeassignmentMain.dorinvoker assignments&takeAssignmentSessionLocator assignment-take&inprogress=false Calculator (Appendix 4A) Journal Entries, Job Costs Instructions Chart of Accounts Amount Descriptions Journal Job-Order Cost Sheets Instructions The following transactions occurred during the month of April for Nelson Company 1 Purchased materials costing $4.610 on account 3 Requisitioned materials totaling $4,800 for use in production, $3,170 for Job 518 and the remainder for Job 519 14 Recorded 65 hours of direct labor on Job 518 and 90 hours on Job 519 for the month Direct...
only the answers please and thank you
We were unable to transcribe this image8. Cost of goods sold A) is calculated exactly the same for merchandising and manufacturing companies. B) only appears on manufacturing companies' income statements. C) appears on both manufacturing and merchandising companies' income statements. D) only appears on merchandising companies' income statements. 14. Edmiston Company reported the 1 Company reported the following year-end information: beginning work in process inventory, S80,000: cost of goods manufactured, $750,000, beginning finished...
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