Which of the following are sections of the Schedule of Cost of Goods Manufactured?
Which of the following are sections of the Schedule of Cost of Goods Manufactured?
Direct Labor
Direct Materials
Factory Overhead
Cost of Goods Manufactured
Cost of Goods Sold
Net Income
Homework Answers
Answer
- Cost of Goods manufactured schedule consist of:
Direct material + Direct Labor + Factory overhead + Beginning WIP – Ending WIP - Hence, Sections that are part of Schedule of Cost of Goods
manufactured are:
>Direct Labor
>Direct Materials
>Factory Overhead
>Cost of Goods manufactured.
Add Answer to:
Which of the following are sections of the Schedule of Cost of Goods Manufactured?
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...
Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for...
Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bourne Manufacturing Company Administrative salaries (non-factory)$140,000 70,000 82,000 44,000 60,000 34,000 350,000 36,000 24,000 114,000 Administrative rent (non-factory Advertising and promotion expense Depreciation-administrative Depreciation-factory Depreciation-selling Direct labor Factory rent Factory supplies used Finished goods inventory Ulanuary 1) 114000 Finished goods inventory (December 31) 104,000 28,000 38,000 26,000 40,000 Net delivered cost of materials purchased 276,000 52,000 1,690,000 144,000 Work in process inventary (Uanuary )36.000...
6 Prepare the schedule of cost of goods manufactured for Barton Company using the following information....
6 Prepare the schedule of cost of goods manufactured for Barton Company using the following information. 125 points Direct materials Direct labor Factory overhead costs Work in process, beginning Work in process, ending $ 215,000 64,500 30,400 160,000 151,750 eBook References Barton Company Schedule of Cost of Goods Manufactured Total manufacturing costs Total cost of work in process Cost of goods manufactured Direct materials Direct labor Factory overhead costs Work in process, beginning Work in process, ending $ 215,000 64,500...
Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for...
Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bourne Manufacturing Company: Administrative salaries (non-factory) $105,000 Administrative rent (non-factory) 52,500 Advertising and promotion expense 61,500 Depreciation-administrative 33,000 Depreciation-factory 45,000 Depreciation-selling 25,500 Direct labor 262,500 Factory rent 27,000 Factory supplies used 18,000 Finished goods inventory (January 1) 85,500 Finished goods inventory (December 31) 78,000 Indirect material used 21,000 Indirect labor 28,500 Materials inventory (January 1) 19,500 Materials inventory (December 31) 30,000 Net delivered cost...
An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule...
An incomplete cost of goods manufactured schedule is presented
below.
Complete the cost of goods manufactured schedule for Sarasota
Company.
SARASOTA
COMPANY
Cost of Goods Manufactured Schedule
December 31, 2017For the Month Ended December 31, 2017For the Year
Ended December 31, 2017
Work in process (1/1)
$213,100
Direct materials
Raw
materials inventory (1/1)
$
Add: Raw
materials purchases
165,650
Total raw
materials available for use
Less: Raw
materials inventory (12/31)
26,990
Direct materials used
$189,070
Direct labor
Manufacturing overhead
Indirect...
Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for...
Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bishop Manufacturing Company: Administrative salaries (non-factory) $212,500 Administrative rent (non-factory) 117.500 Advertising and promotion expense 232,500 Depreciation-administrative 192.500 Depreciation-factory 237,500 Depreciation-selling 90,000 Direct labor 812.500 Factory rent 170,000 Factory supplies used 57.500 Finished goods inventory (January 1) 152.500 Finished goods inventory (December 31 157.500 Indirect material used 67.500 Indirect labor 110.000 Materials inventory (January 1) 55.000 Materials inventory (December 31) 75,000 Net delivered cost...
An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured...
An incomplete cost of goods manufactured schedule is presented
below.
Complete the cost of goods manufactured schedule for Concord
Company.
CONCORD COMPANY
Cost of Goods Manufactured Schedule
Work in process (1/1)
$215,370
Direct materials
Raw materials inventory (1/1)
$
----------
Add: Raw materials purchases
164,870
Total raw materials available for use
-----------
Less: Raw materials inventory (12/31)
27,100
Direct materials used
$183,400
Direct labor
-----------
Manufacturing overhead
Indirect labor
21,960
Factory depreciation
36,430
Factory utilities
71,750
Total overhead
130,140
Total...
Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for...
Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bourne Manufacturing Company: Administrative salaries (non-factory) $105,000 Administrative rent (non-factory) 52,500 Advertising and promotion expense 61,500 Depreciation-administrative 33,000 Depreciation-factory 45,000 Depreciation-selling 25,500 Direct labor 262,500 Factory rent 27,000 Factory supplies used 18,000 Finished goods inventory (January 1) 85,500 Finished goods inventory (December 31) 78,000 Indirect material used 21,000 Indirect labor 28,500 Materials inventory (January 1) 19,500 Materials inventory (December 31) 30,000 Net delivered cost...
3. Prepare a schedule of cost of goods manufactured Saved Required information [The following information applies...
3.
Prepare a schedule of cost of goods manufactured
Saved Required information [The following information applies to the questions displayed below.) Marcelino Cols March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385.000. Overhead costs incurred in April are: indirect materials, $55,000; Indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct labor cost. Job...
An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured...
An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Hobbit Company. HOBBIT COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 $213,900 Work in process (1/1) Direct materials Raw materials inventory (1/1) $ 164,300 Add: Raw materials purchases Total raw materials available for use 29,530 Less: Raw materials inventory (12/31) Direct materials used $185,570 Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead 25,530...
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...
Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bourne Manufacturing Company Administrative salaries (non-factory)$140,000 70,000 82,000 44,000 60,000 34,000 350,000 36,000 24,000 114,000 Administrative rent (non-factory Advertising and promotion expense Depreciation-administrative Depreciation-factory Depreciation-selling Direct labor Factory rent Factory supplies used Finished goods inventory Ulanuary 1) 114000 Finished goods inventory (December 31) 104,000 28,000 38,000 26,000 40,000 Net delivered cost of materials purchased 276,000 52,000 1,690,000 144,000 Work in process inventary (Uanuary )36.000...
6 Prepare the schedule of cost of goods manufactured for Barton Company using the following information. 125 points Direct materials Direct labor Factory overhead costs Work in process, beginning Work in process, ending $ 215,000 64,500 30,400 160,000 151,750 eBook References Barton Company Schedule of Cost of Goods Manufactured Total manufacturing costs Total cost of work in process Cost of goods manufactured Direct materials Direct labor Factory overhead costs Work in process, beginning Work in process, ending $ 215,000 64,500...
An incomplete cost of goods manufactured schedule is presented
below.
Complete the cost of goods manufactured schedule for Sarasota
Company.
SARASOTA
COMPANY
Cost of Goods Manufactured Schedule
December 31, 2017For the Month Ended December 31, 2017For the Year
Ended December 31, 2017
Work in process (1/1)
$213,100
Direct materials
Raw
materials inventory (1/1)
$
Add: Raw
materials purchases
165,650
Total raw
materials available for use
Less: Raw
materials inventory (12/31)
26,990
Direct materials used
$189,070
Direct labor
Manufacturing overhead
Indirect...
Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bishop Manufacturing Company: Administrative salaries (non-factory) $212,500 Administrative rent (non-factory) 117.500 Advertising and promotion expense 232,500 Depreciation-administrative 192.500 Depreciation-factory 237,500 Depreciation-selling 90,000 Direct labor 812.500 Factory rent 170,000 Factory supplies used 57.500 Finished goods inventory (January 1) 152.500 Finished goods inventory (December 31 157.500 Indirect material used 67.500 Indirect labor 110.000 Materials inventory (January 1) 55.000 Materials inventory (December 31) 75,000 Net delivered cost...
An incomplete cost of goods manufactured schedule is presented
below.
Complete the cost of goods manufactured schedule for Concord
Company.
CONCORD COMPANY
Cost of Goods Manufactured Schedule
Work in process (1/1)
$215,370
Direct materials
Raw materials inventory (1/1)
$
----------
Add: Raw materials purchases
164,870
Total raw materials available for use
-----------
Less: Raw materials inventory (12/31)
27,100
Direct materials used
$183,400
Direct labor
-----------
Manufacturing overhead
Indirect labor
21,960
Factory depreciation
36,430
Factory utilities
71,750
Total overhead
130,140
Total...
3.
Prepare a schedule of cost of goods manufactured
Saved Required information [The following information applies to the questions displayed below.) Marcelino Cols March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385.000. Overhead costs incurred in April are: indirect materials, $55,000; Indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct labor cost. Job...
An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Hobbit Company. HOBBIT COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 $213,900 Work in process (1/1) Direct materials Raw materials inventory (1/1) $ 164,300 Add: Raw materials purchases Total raw materials available for use 29,530 Less: Raw materials inventory (12/31) Direct materials used $185,570 Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead 25,530...
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