Homework Answers
8) Gross profit = Sales + closing stock - purchases
(45000*15) + (450000/50000)*5000 - 450000 = 270000
9) Cost of goods manufactured = 45000 + 48000 + 39000 + 18000 - 28000 = 122000
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structions 10 p Question 8 A company manufactured 50,000 units of a product at a cost...
The following information is taken from the financial records of Gunner Manufacturing: Cost of materials used...
The following information is taken from the financial records of Gunner Manufacturing: Cost of materials used Direct labor costs Factory overhead Work in process, beginning Work in process, ending $45,000 48,000 39,000 18,000 28,000 What is the cost of goods manufactured? a. $178,000 b. $132,000 c. $122,000 d. $142,000 An example of a period cost is a. advertising expense b. indirect materials c. depreciation on factory equipment d. property taxes on plant facilities If the cost of a direct material...
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Calculator Given the following data: Cost of materials used Direct labor costs Factory overhead Work in...
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Calculator Given the following data: Cost of materials used Direct labor costs Factory overhead Work in process, beginning Work in process, ending Finished goods, beginning Finished goods, ending $45,000 48,000 39,000 28,000 18,000 28,000 18,000 What is cost of goods sold? O a. $152,000 b. $10,000 c. $142,000 d. $128,000
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5 pts Question 5 The Thomlin Company forecasts that total overhead for the current year will be $15,000,000 with 300,000 total machine hours. Year to date, the actual overhead is $16,000,000 and the actual machine hours are 330,000 hours. If the Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, as of this point in time (year to date), the overhead is e $500,000 over applied O $1,000,000 over applied $500,000 under applied $1,000,000 under...
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