Homework Answers
Question 1
| Beginning raw material inventory | $ 300,000 | |
| Add: Raw material purchased | $ 9,200,000 | |
| Less: Ending raw material inventory | $ (480,000) | |
| Raw material used | $ 9,020,000 | |
| Add: Direct labor | $ 820,000 | |
| Add: Manufacturing overhead | $ 790,000 | |
| Total manufacturing cost | $ 10,630,000 | |
| Add: Beginning work in process inventory | $ 1,080,000 | |
| Less: Ending work in process inventory | $ (900,000) | |
| Cost of goods manufactured | $ 10,810,000 |
Answer is C $10,810,000
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Question 7 Vaughn Manufacturing reported the following year-end information: $1080000 300000 900000 Beginning work in process...
Question 8 Concord Corporation's accounting records reflect the following inventories: Dec. 31, 2019 Dec. 31, 2020...
Question 8 Concord Corporation's accounting records reflect the following inventories: Dec. 31, 2019 Dec. 31, 2020 Raw materials inventory $ 80000 $ 64000 Work in process inventory 104000 116000 Finished goods inventory 100000 92000 During 2020, Concord purchased $1490000 of raw materials, incurred direct labor costs of $250000, and incurred manufacturing overhead totaling $160000. Assume Concord's cost of goods manufactured for 2020 amounted to $1904000. How much would it report as cost of goods sold for the year? O $1896000...
Question 9 Coronado Industries reported the following year-end information: Beginning work in process inventory Beginning raw...
Question 9 Coronado Industries reported the following year-end information: Beginning work in process inventory Beginning raw materials inventory Ending work in process inventory Ending raw materials inventory Raw materials purchased Direct labor Manufacturing overhead $1080000 300000 900000 480000 940000 840000 800000 Coronado Industries's cost of goods manufactured for the year is O $2760000. $2220000. $2580000. $2400000. Question 7 Swifty Corporation's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec. 31, 2020 $320000...
34) Wowo Company reported the following year-end Information, beginning work in process inventory, $180,000; cost o...
34) Wowo Company reported the following year-end Information, beginning work in process inventory, $180,000; cost of goods manufactured, 5866.000, beginning finished goods Inventory, $252,000; ending work in process inventory. $220,000, and ending finished goods inventory, $264,000. Wowo Company's cost of goods sold for the year is a $854,000. b. $878,000 c. $826,000 d. $602,000. 35) Sir Company reported the following year-end information: Beginning work in process inventory $2.000.000 Beginning raw materials inventory 1,300,000 Ending work in process inventory 900,000 Ending...
Sheffield Corp.reported the following year-end information: $1080000 300000 Beginning work in process inventory Beginning raw materials...
Sheffield Corp.reported the following year-end information: $1080000 300000 Beginning work in process inventory Beginning raw materials inventory Ending work in process inventory Ending raw materials inventory Raw materials purchased Direct labor Manufacturing overhead 900000 480000 970000 910000 730000 Sheffield Corp.'s cost of goods manufactured for the year is $2790000 $2610000 $2430000 $2250000 Save for Later Attempts: 0 of
Sheffield Corp. reported the following year-end information: Beginning work in process $56000 inventory Beginning raw materials...
Sheffield Corp. reported the following year-end information: Beginning work in process $56000 inventory Beginning raw materials 33000 inventory Ending work in process inventory 54000 Ending raw materials inventory 17000 Raw materials purchased 850000 Direct labor 440000 Manufacturing overhead 100000 How much is Sheffield's cost of goods manufactured for the year? $866000 $1408000 $1404000 $1406000 O O Crane Company reported the following year-end information: Beginning work in process $32000 inventory Beginning raw materials inventory 14000 Ending work in process inventory 34000...
Concord Corporation has beginning and ending work in process inventories of $170000 and $185000 respectively. If...
Concord Corporation has beginning and ending work in process inventories of $170000 and $185000 respectively. If total manufacturing costs are $680000, what is the total cost of goods manufactured? O $850000. O $665000. $865000. $695000. Given the following data for Concord Corporation, compute cost of goods manufactured: Direct materials used $120000 Beginning work in process $20000 Direct labor 100000 Ending work in process 10000 Manufacturing 80000 Beginning finished goods 25000 overhead Operating expenses 75000 Ending finished goods 15000 $300000 $320000...
Sunland Company reported the following year-end information: Beginning work in process inventory $1080000 Beginning raw materials...
Sunland Company reported the following year-end information: Beginning work in process inventory $1080000 Beginning raw materials inventory 300000 Ending work in process inventory 900000 Ending raw materials inventory 480000 Raw materials purchased 980000 Direct labor 920000 Manufacturing overhead 740000 Sunland Company's cost of goods manufactured for the year is $2280000. $2820000. $2460000. $2640000.
Almond Group reported the following year-end information: Beginning work in process inventory $200,000 Beginning raw materials...
Almond Group reported the following year-end information: Beginning work in process inventory $200,000 Beginning raw materials inventory 500,000 Ending work in process inventory 800,000 Ending raw materials inventory 500,000 Raw materials purchased 700,000 Direct labor 900,000 Manufacturing overhead 600,000 Almond's cost of goods manufactured for the year is $2,900,000. $2,800,000 $4,200,000. $1,600,000.
Pentex, Inc. reported the following year-end information: Beginning work in process inventory $3,400 Beginning raw materials...
Pentex, Inc. reported the following year-end information: Beginning work in process inventory $3,400 Beginning raw materials inventory 2,900 Ending work in process inventory *4,300 Ending raw materials inventory 1,800 Raw materials purchased 60,700 Direct labor 50,900 Manufacturing overhead 10,000 How much is the company's cost of goods manufactured for the year? $121,800 $122,700 $121,600 $120,700
9. Old Genius Professor Mullen, Inc reported the following year-end information: beginning work in process inventory,...
9. Old Genius Professor Mullen, Inc reported the following year-end information: beginning work in process inventory, (BI,WIP) $80,000; cost of goods manufactured (CGM), $880,000; beginning finished goods inventory, (BI,FG) $50,000; ending work in process inventory, (EI, WIP) $70,000; and ending finished goods inventory, (EI, FG) $40,000. How much is the Old Genius Professor Mullen Inc's cost of goods sold (CGS) for the year? A) $880,000 B) $890,000 C) $870,000 D) $900,000 10. Mullen Jao Soo Company reported total manufacturing costs...
Question 8 Concord Corporation's accounting records reflect the following inventories: Dec. 31, 2019 Dec. 31, 2020 Raw materials inventory $ 80000 $ 64000 Work in process inventory 104000 116000 Finished goods inventory 100000 92000 During 2020, Concord purchased $1490000 of raw materials, incurred direct labor costs of $250000, and incurred manufacturing overhead totaling $160000. Assume Concord's cost of goods manufactured for 2020 amounted to $1904000. How much would it report as cost of goods sold for the year? O $1896000...
Question 9 Coronado Industries reported the following year-end information: Beginning work in process inventory Beginning raw materials inventory Ending work in process inventory Ending raw materials inventory Raw materials purchased Direct labor Manufacturing overhead $1080000 300000 900000 480000 940000 840000 800000 Coronado Industries's cost of goods manufactured for the year is O $2760000. $2220000. $2580000. $2400000. Question 7 Swifty Corporation's accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec. 31, 2020 $320000...
34) Wowo Company reported the following year-end Information, beginning work in process inventory, $180,000; cost of goods manufactured, 5866.000, beginning finished goods Inventory, $252,000; ending work in process inventory. $220,000, and ending finished goods inventory, $264,000. Wowo Company's cost of goods sold for the year is a $854,000. b. $878,000 c. $826,000 d. $602,000. 35) Sir Company reported the following year-end information: Beginning work in process inventory $2.000.000 Beginning raw materials inventory 1,300,000 Ending work in process inventory 900,000 Ending...
Sheffield Corp.reported the following year-end information: $1080000 300000 Beginning work in process inventory Beginning raw materials inventory Ending work in process inventory Ending raw materials inventory Raw materials purchased Direct labor Manufacturing overhead 900000 480000 970000 910000 730000 Sheffield Corp.'s cost of goods manufactured for the year is $2790000 $2610000 $2430000 $2250000 Save for Later Attempts: 0 of
Sheffield Corp. reported the following year-end information: Beginning work in process $56000 inventory Beginning raw materials 33000 inventory Ending work in process inventory 54000 Ending raw materials inventory 17000 Raw materials purchased 850000 Direct labor 440000 Manufacturing overhead 100000 How much is Sheffield's cost of goods manufactured for the year? $866000 $1408000 $1404000 $1406000 O O Crane Company reported the following year-end information: Beginning work in process $32000 inventory Beginning raw materials inventory 14000 Ending work in process inventory 34000...
Concord Corporation has beginning and ending work in process inventories of $170000 and $185000 respectively. If total manufacturing costs are $680000, what is the total cost of goods manufactured? O $850000. O $665000. $865000. $695000. Given the following data for Concord Corporation, compute cost of goods manufactured: Direct materials used $120000 Beginning work in process $20000 Direct labor 100000 Ending work in process 10000 Manufacturing 80000 Beginning finished goods 25000 overhead Operating expenses 75000 Ending finished goods 15000 $300000 $320000...
Almond Group reported the following year-end information: Beginning work in process inventory $200,000 Beginning raw materials inventory 500,000 Ending work in process inventory 800,000 Ending raw materials inventory 500,000 Raw materials purchased 700,000 Direct labor 900,000 Manufacturing overhead 600,000 Almond's cost of goods manufactured for the year is $2,900,000. $2,800,000 $4,200,000. $1,600,000.
Pentex, Inc. reported the following year-end information: Beginning work in process inventory $3,400 Beginning raw materials inventory 2,900 Ending work in process inventory *4,300 Ending raw materials inventory 1,800 Raw materials purchased 60,700 Direct labor 50,900 Manufacturing overhead 10,000 How much is the company's cost of goods manufactured for the year? $121,800 $122,700 $121,600 $120,700
9. Old Genius Professor Mullen, Inc reported the following year-end information: beginning work in process inventory, (BI,WIP) $80,000; cost of goods manufactured (CGM), $880,000; beginning finished goods inventory, (BI,FG) $50,000; ending work in process inventory, (EI, WIP) $70,000; and ending finished goods inventory, (EI, FG) $40,000. How much is the Old Genius Professor Mullen Inc's cost of goods sold (CGS) for the year? A) $880,000 B) $890,000 C) $870,000 D) $900,000 10. Mullen Jao Soo Company reported total manufacturing costs...
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