Ans:Sleep tight inc for the year ending Dec 31
Particulars | Amount |
Amount($) |
Amount($) |
Finished goods inventory, Jan 1 | 38,000 | ||
Work in process inventory, Jan 1 | 31,000 | ||
Direct Materials: | |||
Direct Materials Jan 1 | 25,000 | ||
Direct materials purchases | 560,000 | ||
Cost of direct materials available for sale | 585,000 | ||
Less: Direct materials inventory Dec 31 | (22,000) | ` | |
Cost of direct materials placed in production | 563,000 | ||
Direct labor | 224,000 | ||
Factory overhead | 149,000 | ||
Total manufacturing costs | 936,000 | ||
Total work in process during the year | 967,000 | ||
Less: work in process inventory , Dec 31 | (37,000) | ||
Cost of goods manufactured | 930,000 | ||
Cost of finished goods available for sale | 968,000 | ||
Less: finished goods inventory , Dec 31 | (45,000) | ||
Cost of goods sold | 923,000 |
Sleep Tight, Inc. manufactures comforters. The estimated inventories on January 1 for finished goods, work in...
Sleep Tight, Inc. manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $36,000, $35,000 and $29,000 respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $46,000, $36,000 and $21,000 respectively. Direct materials purchases were $575,000. Direct labor was $219,000 for the year. Factory overhead was $151,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Sleep Tight, Inc. Cost of Goods Sold Budget...
Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $38,000, $33,000, and $26,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $45,000, $38,000, and $20,000, respectively. Direct materials purchases were $575,000, direct labor was $206,000 for the year, and factory overhead was $152,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Finished goods inventory, January 1 $ ____...
Calculator Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $36,000, $32,000 and $24,000 respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $42,000, $34,000 and $22,000 respectively. Direct material purchases were $555,000. Direct labor was $219,000 for the year. Factory overhead was $150,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Sleep Tight, Inc. Cost of Goods Sold Budget...
Instruction Sleep Tight, Inc, manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $37.000, $31,000, and $29,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were 544,000 $36,000, and $20,000, respectively. Direct materials purchases were $560,000, direct labor was $209,000 for the year, and factory overhead was $149,000 Required: Prepare a cost of goods sold budget for Sleep Tight, in refer to the list of...
Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $40,000, $34,000, and $28,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $44,000, $35,000, and $19,000, respectively. Direct material purchases were $550,000, direct labor was $246,000 for the year, and factory overhead was $146,000. Required: Prepare a cost of goods sold budget for Sleep Tight, Inc. Refer to the lists of Labels and...
Instruction Sleep Tight, Inc, manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $37.000, $31,000, and $27.000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $46,000, 38,000, and $23,000, respectively. Direct materials purchases were $565,000, direct labor was $245,000 for the year, and factory overhead was $140,000 Required: Prepare a cost of goods sold budget for Sleep Tight, Inc. Refer to the Ists of...
Good Night, Inc. manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $51,000, $28,000, and $33,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $48,000, $35,000, and $29,000, respectively. Direct materials purchases were $555,000. Direct labor was $252,000 for the year. Factory overhead was $176,000. Required: Prepare a cost of goods sold budget for Good Night, Inc. Refer to the lists of Labels and...
5. Good Night manufactures comforters. The estimated inventories on January 1 for finisaca goods, work in process, and materials were $51,000, $28,000, and $33.000, respectively The desired inventories on December 31 for finished goods, work in process, and made were $48,000, $35,000, and $29,000, respectively. Direct material purchases were $35 Direct labor was $252,000 for the year. Factory overhead was $176,000. Prepare a costo goods sold budget for Good Night, Inc.
Cost of goods sold budget Pasadena Candle Inc. A budget of estimated unit production.budgeted production of 785,000 candles for the year. Each candle requires molding. Assume that six minutes are required to mold each candle. If molding labor costs $18 per hour, determine the direct labor cost budget for the year. Wax is required to produce a candle. Assume 487,125 pounds of material will be purchased during the year. If candle wax costs $1.24 per pound, determine the direct materials...
Pasadena Candle Inc. budgeted production of 785,000 candles for January. Each candle requires molding. Assume that six minutes are required to mold each candle. If molding labor costs $18 per hour, determine the direct labor cost budget for January. Wax is required to produce a candle. Assume 487,125 pounds of material will be purchased during January. The candle wax costs $1.24 per pound. Prepare a cost of goods sold budget for Pasadena Candle Inc. using the information above. Assume the...