Homework Answers
| operating income | |||||||
| sales revenue | 5,000 | ||||||
| cost of goods sold | |||||||
| beginning raw materials inventory | 250 | ||||||
| add purchases | 490 | ||||||
| less ending raw materials inventory | -260 | ||||||
| direct materials used | 480 | ||||||
| direct labor | 450 | ||||||
| manufacturing overhead | 660 | ||||||
| total manufacturing cost | 1590 | ||||||
| add beginning work in process | 410 | ||||||
| less ending wip | -460 | ||||||
| cost of goods manufactured | 1540 | ||||||
| Add beginning finisehd goods inventory | 280 | ||||||
| less ending finished goods inventory | -200 | ||||||
| cost of goods sold | 1620 | ||||||
| gross profit | 3,380 | ||||||
| operating expense | 720 | ||||||
| operating income | 2,660 | answer | |||||
| answer) | option C | ||||||
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Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory...
Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory...
Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory $4,300 $480 $520 $620 $730 $210 $220 $420 $490 $310 $200 What was the cost of direct materials used? O A. $690 OB. $480 OC. $470 OD. $430 Click to select your answer
Sales $1,980 Selling expenses 350 Manufacturing overhead 460 Direct labor 400 Administrative expenses 500 Purchases of...
Sales $1,980 Selling expenses 350 Manufacturing overhead 460 Direct labor 400 Administrative expenses 500 Purchases of Direct materials 460 Finished goods inventory, beginning 240 Finished goods inventory, ending 320 Direct materials inventory, beginning 200 Direct materials inventory, ending 140 Work in process inventory, beginning 140 Work in process inventory, ending 100 What was the cost of the direct materials used in production during the year? Question 16 options: $660 $700 $340 $520
Sales ........ Direct labor ....... Selling & administrative costs Raw materials purchased Manufacturing overhead $72,000 10,000...
Sales ........ Direct labor ....... Selling & administrative costs Raw materials purchased Manufacturing overhead $72,000 10,000 7,000 20,000 13,500 Inventory_ Raw materials .... Work-in-process Finished goods Beginning $10,000 18,000 21,000 Ending $ 5,000 17,000 16,500 What were the total manufacturing costs for September? O $ $25,000 O $43,500 O $49,500 O $48,500 Sales Direct labor Selling & administrative costs Raw materials purchased Manufacturing overhead $72,000 10,000 7,000 20,000 13,500 Inventory Raw materials Work-in-process Finished goods Beginning $10,000 18,000 21,000 Ending...
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...
Selected financial information for Brookeville Manufacturing is presented in the following table (000s omitted). Sales revenue...
Selected financial information for Brookeville Manufacturing is presented in the following table (000s omitted). Sales revenue $ 4,000 Purchases of direct materials $ 400 Direct labor $ 450 Manufacturing overhead $ 620 Operating expenses $ 650 Beginning raw materials inventory $ 200 Ending raw materials inventory $ 180 Beginning work in process inventory $ 320 Ending work in process inventory $ 410 Beginning finished goods inventory $ 250 Ending finished goods inventory $ 200 What was cost of goods manufactured?
Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials...
Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,115,000 36,000 51,600 67,500 158,200 235,000 22, 200 45,000 5,250 57,000 90,000 141,000 48,300 42,400 74,500 DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended...
$40 Sales ...... $990 Raw materials inventory, beginning ....... - Raw materials inventory, ending .... $70...
$40 Sales ...... $990 Raw materials inventory, beginning ....... - Raw materials inventory, ending .... $70 Purchases of raw materials...... $120 Direct labor ............ $200 - Manufacturing overhead ...................... $230 Administrative expenses ...................... $150 Selling expenses................. $140 Work in process inventory, beginning........ $70 Work in process inventory, ending ..... ... $50 Finished goods inventory, beginning .......... Finished goods inventory, ending .............. $160 $120 51. The cost of the raw materials used in production during the year (in thousands of dollars)...
Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work...
Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 655, eee $ 86, eee $ 140, eee $ 102, eee $ 44, eee $ 207, eee $ 226, eee Inventories Raw materials Work in process Finished goods Beginning $ 8,eee $ 5,400 $ 73,eee Ending $ 11, eee $ 20,800 $ 25, 120 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw...
Sales Less operating expenses: $450,000 Direct labor cost Raw materials purchased Manufacturing overhead Selling/ admin. expenses...
Sales Less operating expenses: $450,000 Direct labor cost Raw materials purchased Manufacturing overhead Selling/ admin. expenses $70,000 165,000 85,000 142,000 462,000 ($12,000 Net operating loss ) ー Inventory balances: Raw Materials Work in process Finished goods August 1August 31 $8,000 $13,000 $16,000$21,000 $40,000 $60,000 That's not right! Something is wrong. Can you correct this income statement? Nutini Shoes Company Income Statement Raw material used For the Month Ending August 31 Cost of Goods Manufactured Cost of Goods Sold
Example #15 Beginning inventory, raw materials Ending inventory, raw materials $15,000 $10,000 Purchases of raw materials...
Example #15 Beginning inventory, raw materials Ending inventory, raw materials $15,000 $10,000 Purchases of raw materials Unknown #1 Raw materials used Unknown #2 Direct labor $175.000 Manufacturing Overhead $112,000 Total manufacturing costs $377,000 Beginning inventory, work in process Unknown #3 Ending inventory, work in process $16.000 Cost of Goods Manufactured $389,000 Unknown #4 Beginning inventory, finished goods Cost of goods available for sale $462,000 $61,000 Ending Inventory, finished goods Unknown #5 Cost of Goods Sold $741,000 Sales Unknown #6 Gross...
Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory $4,300 $480 $520 $620 $730 $210 $220 $420 $490 $310 $200 What was the cost of direct materials used? O A. $690 OB. $480 OC. $470 OD. $430 Click to select your answer
Sales ........ Direct labor ....... Selling & administrative costs Raw materials purchased Manufacturing overhead $72,000 10,000 7,000 20,000 13,500 Inventory_ Raw materials .... Work-in-process Finished goods Beginning $10,000 18,000 21,000 Ending $ 5,000 17,000 16,500 What were the total manufacturing costs for September? O $ $25,000 O $43,500 O $49,500 O $48,500 Sales Direct labor Selling & administrative costs Raw materials purchased Manufacturing overhead $72,000 10,000 7,000 20,000 13,500 Inventory Raw materials Work-in-process Finished goods Beginning $10,000 18,000 21,000 Ending...
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...
Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,115,000 36,000 51,600 67,500 158,200 235,000 22, 200 45,000 5,250 57,000 90,000 141,000 48,300 42,400 74,500 DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended...
$40 Sales ...... $990 Raw materials inventory, beginning ....... - Raw materials inventory, ending .... $70 Purchases of raw materials...... $120 Direct labor ............ $200 - Manufacturing overhead ...................... $230 Administrative expenses ...................... $150 Selling expenses................. $140 Work in process inventory, beginning........ $70 Work in process inventory, ending ..... ... $50 Finished goods inventory, beginning .......... Finished goods inventory, ending .............. $160 $120 51. The cost of the raw materials used in production during the year (in thousands of dollars)...
Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 655, eee $ 86, eee $ 140, eee $ 102, eee $ 44, eee $ 207, eee $ 226, eee Inventories Raw materials Work in process Finished goods Beginning $ 8,eee $ 5,400 $ 73,eee Ending $ 11, eee $ 20,800 $ 25, 120 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw...
Sales Less operating expenses: $450,000 Direct labor cost Raw materials purchased Manufacturing overhead Selling/ admin. expenses $70,000 165,000 85,000 142,000 462,000 ($12,000 Net operating loss ) ー Inventory balances: Raw Materials Work in process Finished goods August 1August 31 $8,000 $13,000 $16,000$21,000 $40,000 $60,000 That's not right! Something is wrong. Can you correct this income statement? Nutini Shoes Company Income Statement Raw material used For the Month Ending August 31 Cost of Goods Manufactured Cost of Goods Sold
Example #15 Beginning inventory, raw materials Ending inventory, raw materials $15,000 $10,000 Purchases of raw materials Unknown #1 Raw materials used Unknown #2 Direct labor $175.000 Manufacturing Overhead $112,000 Total manufacturing costs $377,000 Beginning inventory, work in process Unknown #3 Ending inventory, work in process $16.000 Cost of Goods Manufactured $389,000 Unknown #4 Beginning inventory, finished goods Cost of goods available for sale $462,000 $61,000 Ending Inventory, finished goods Unknown #5 Cost of Goods Sold $741,000 Sales Unknown #6 Gross...
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