Homework Answers
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| Knot Co. | |||
| Cost of goods manufactured | Amount $ | Amount $ | |
| Opening Raw materials | 40,000.00 | ||
| Add: Purchases | 320,000.00 | ||
| Less: Closing Raw materials | 19,000.00 | ||
| Raw materials consumed | 341,000.00 | ||
| Direct Labor | 200,000.00 | ||
| Manufacturing Overhead | |||
| Depreciation-building & equipment | 20,000.00 | ||
| Indirect Labor | 66,000.00 | ||
| Insurance on plant | 15,000.00 | ||
| Repairs and maintenance plant | 10,000.00 | 111,000.00 | |
| Add: Opening work in process | 90,000.00 | ||
| Less: Closing work in process | 70,000.00 | ||
| Cost of goods manufactured | 672,000.00 | ||
| Units manufactured | 4,000.00 | ||
| Cost per unit | 168.00 | This is calculated by dividing Cost of goods manufactured with Units manufactured. | |
| Note: Administrative expense and sales salaries are not a part of cost of product. | |||
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Knot Co. has the following activity for their most recent year when 4,000 units were made:...
Knot Co. has the following activity for their most recent year when 4,000 units were made:...
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 $ 52,200.00 Ending $ purchases $ Depreciation, building & equipment 20,000.00 Raw material purchases 290,000.00 Insurance on plant 15,000.00 Sales salaries 40,000.00 Repairs & Maintenance, plant 10,000.00 Indirect labor 66.000.00 Direct labor 200,000.00 Administrative expenses 100,000.00 What is the Cost Per Unit? Respond without commas or...
Knot Co. has the following activity for their most recent year when 6,000 units were made:...
Knot Co. has the following activity for their most recent year when 6,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment 20,000.00 Raw material purchases 240,000.00 15,000.00 40,000.00 Insurance on plant Sales salaries Repairs & Maintenance, plant Indirect labor Direct labor 10,000.00 66,000.00 200,000.00 Administrative expenses 100,000.00 What is the Cost of Goods Sold?
Knot Co. has the following activity for their most recent year when 4,000 units were made:...
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: 2$ 40,000.00 2$ 19,000.00 Beginning Ending Work in Process: %24 90,000.00 24 70,000.00 Beginning Ending Finished Goods Inventory: Beginning 26,100.00 24 52,200.00 Ending 2$ Depreciation, building & equipment 20,000.00 %24 200,000.00 %24 15,000.00 2$ Raw material purchases Insurance on plant Sales salaries 40,000.00 2$ 10,000.00 2$ 66,000.00 24 200,000.00 24 200,000.00 Repairs & Maintenance, plant Indirect labor Direct labor Administrative expenses What...
Knot Co. has the following activity for their most recent year when 7.000 units were made:...
Knot Co. has the following activity for their most recent year when 7.000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment Raw material purchases 20,000.00 210,000.00 15,000.00 Insurance on plant Sales salaries Repairs & Maintenance, plant Indirect 40,000.00 10,000.00 66,000.00 200,000.00 Administrative expenses 100,000.00 What is the cost of Goods Sold? Respond without commas or dollar signs, rounded to whole numbers...
Knot Co. has the following activity for their most recent year when 4,000 units were made:...
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19.000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment 20,000.00 Raw material purchases 110,000.00 Insurance on plant 15.000.00 Sales salaries 40,000.00 Repairs & Maintenance, plant 10,000.00 Indirect labor 66,000.00 Direct labor 200,000.00 Administrative expenses 200,000.00 What is the cost of Goods Manufactured? Respond without commas or dollar signs, rounded...
Co. has the following activity for their most recent year when 7.000 units were made: Raw...
Co. has the following activity for their most recent year when 7.000 units were made: Raw Materials: Beginning 40,000.00 19,000.00 Ending Work in Process: Beginning 90,000.00 70,000.00 Ending Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment 20,000.00 Raw material purchases Insurance on plant 260,000.00 15,000.00 Sales Salaries 40,000.00 Repairs & Maintenance, plant Indirect abor Direct 10,000.00 66,000.00 ho 200,000.00 Administrative expenses 100,000.00 What is the Cost Per Unit? Respond without commas or dollar signs, rounded to two...
Haze Enterprise provided the following: Sales 7,500,000.00 Inventories - Jan 1 Raw Materials 200,000.00...
Haze Enterprise provided the following: Sales 7,500,000.00 Inventories - Jan 1 Raw Materials 200,000.00 Goods in Process 240,000.00 Finished Goods 360,000.00 Inventories - Dec 31 Raw Materials 280,000.00 Goods in process 170,000.00 Finished Goods 300,000.00 Purchases 3,000,000.00 Direct Labor 950,000.00 Indirect Labor 250,000.00 Superintendent 210,000.00 Light, heat and power 320,000.00 Rent- Factory Building 120,000.00 Repair and Maintenance Machinery 50,000.00 Factory Supplies Used 110,000.00 Sales, Salaries 400,000.00 Advertising...
Henry Co. has the following activity for their most recent year: $ 10,000.00 $ 19,000.00 $33,000.00...
Henry Co. has the following activity for their most recent year: $ 10,000.00 $ 19,000.00 $33,000.00 Direct material used Direct Labor Manufacturing overhead Work in Process: Beginning Ending $ 6,000.00 $ 7,000.00 They made 9,000 units They sold 6,000 units. What is the Cost of Goods Sold? Hint: You must calculate the cost per unit. Do not round until the final computation. Round to the nearest whole dollar and enter without commas or dollar signs.
Henry Co. has the following activity for their most recent year: $ 38,000.00 $19,000.00 $ 33,000.00...
Henry Co. has the following activity for their most recent year: $ 38,000.00 $19,000.00 $ 33,000.00 Direct material used Direct Labor Manufacturing overhead Work in Process: Beginning Ending $ 6,000.00 $ 7,000.00 They made 9,000 units They sold 3,000 units. What is the Cost of Goods Sold? Hint: You must calculate the cost per unit.
Prepare the income statement for Aqua SourceAqua Source Company, for the most recent year, using the...
Prepare the income statement for Aqua SourceAqua Source Company,
for the most recent year, using the amounts and the schedule of
cost of goods manufactured below. Assume that the company sold
40,000 units of its product at a price of $15 each during the
year.
Prepare the income statement for Aqua Source Company, for the most recent year, using the amounts and the schedule of cost of goods manufactured below. Assume that the company sold 40,000 units of its product...
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 $ 52,200.00 Ending $ purchases $ Depreciation, building & equipment 20,000.00 Raw material purchases 290,000.00 Insurance on plant 15,000.00 Sales salaries 40,000.00 Repairs & Maintenance, plant 10,000.00 Indirect labor 66.000.00 Direct labor 200,000.00 Administrative expenses 100,000.00 What is the Cost Per Unit? Respond without commas or...
Knot Co. has the following activity for their most recent year when 6,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment 20,000.00 Raw material purchases 240,000.00 15,000.00 40,000.00 Insurance on plant Sales salaries Repairs & Maintenance, plant Indirect labor Direct labor 10,000.00 66,000.00 200,000.00 Administrative expenses 100,000.00 What is the Cost of Goods Sold?
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: 2$ 40,000.00 2$ 19,000.00 Beginning Ending Work in Process: %24 90,000.00 24 70,000.00 Beginning Ending Finished Goods Inventory: Beginning 26,100.00 24 52,200.00 Ending 2$ Depreciation, building & equipment 20,000.00 %24 200,000.00 %24 15,000.00 2$ Raw material purchases Insurance on plant Sales salaries 40,000.00 2$ 10,000.00 2$ 66,000.00 24 200,000.00 24 200,000.00 Repairs & Maintenance, plant Indirect labor Direct labor Administrative expenses What...
Knot Co. has the following activity for their most recent year when 7.000 units were made: Raw Materials: Beginning 40,000.00 Ending 19,000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment Raw material purchases 20,000.00 210,000.00 15,000.00 Insurance on plant Sales salaries Repairs & Maintenance, plant Indirect 40,000.00 10,000.00 66,000.00 200,000.00 Administrative expenses 100,000.00 What is the cost of Goods Sold? Respond without commas or dollar signs, rounded to whole numbers...
Knot Co. has the following activity for their most recent year when 4,000 units were made: Raw Materials: Beginning 40,000.00 Ending 19.000.00 Work in Process: Beginning 90,000.00 Ending 70,000.00 Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment 20,000.00 Raw material purchases 110,000.00 Insurance on plant 15.000.00 Sales salaries 40,000.00 Repairs & Maintenance, plant 10,000.00 Indirect labor 66,000.00 Direct labor 200,000.00 Administrative expenses 200,000.00 What is the cost of Goods Manufactured? Respond without commas or dollar signs, rounded...
Co. has the following activity for their most recent year when 7.000 units were made: Raw Materials: Beginning 40,000.00 19,000.00 Ending Work in Process: Beginning 90,000.00 70,000.00 Ending Finished Goods Inventory: Beginning 26,100.00 Ending 52,200.00 Depreciation, building & equipment 20,000.00 Raw material purchases Insurance on plant 260,000.00 15,000.00 Sales Salaries 40,000.00 Repairs & Maintenance, plant Indirect abor Direct 10,000.00 66,000.00 ho 200,000.00 Administrative expenses 100,000.00 What is the Cost Per Unit? Respond without commas or dollar signs, rounded to two...
Henry Co. has the following activity for their most recent year: $ 10,000.00 $ 19,000.00 $33,000.00 Direct material used Direct Labor Manufacturing overhead Work in Process: Beginning Ending $ 6,000.00 $ 7,000.00 They made 9,000 units They sold 6,000 units. What is the Cost of Goods Sold? Hint: You must calculate the cost per unit. Do not round until the final computation. Round to the nearest whole dollar and enter without commas or dollar signs.
Henry Co. has the following activity for their most recent year: $ 38,000.00 $19,000.00 $ 33,000.00 Direct material used Direct Labor Manufacturing overhead Work in Process: Beginning Ending $ 6,000.00 $ 7,000.00 They made 9,000 units They sold 3,000 units. What is the Cost of Goods Sold? Hint: You must calculate the cost per unit.
Prepare the income statement for Aqua SourceAqua Source Company,
for the most recent year, using the amounts and the schedule of
cost of goods manufactured below. Assume that the company sold
40,000 units of its product at a price of $15 each during the
year.
Prepare the income statement for Aqua Source Company, for the most recent year, using the amounts and the schedule of cost of goods manufactured below. Assume that the company sold 40,000 units of its product...
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