Homework Answers
Correct answer----------$653,000
Working
| Material used | $ 638,000.00 |
| Add: Ending Inventory | $ 65,000.00 |
| $ 703,000.00 | |
| Less: Beginning Inventory | $ 50,000.00 |
| Material Purchased | $ 653,000.00 |
Add Answer to:
uestion 3 (2 points) Madison Millworks had the following inventories during 2019: January 1 December 31...
Support Schedule of Cost of Goods Manufactured and sold At December 31, 2019, the end of...
Support Schedule of Cost of Goods Manufactured and sold At December 31, 2019, the end of its fiscal year, Lederman Manufacturing Corporation collected the following data for 2019: Materials inventory, January 1 $25,000 Materials inventory, December 31 15,000 Work in process inventory, January 1 30,000 Work in process inventory, December 31 41,000 Finished goods inventory, January 1 51,000 Finished goods inventory, December 31 36,000 Net delivered cost of materials purchased 150,000 Direct labor 148,000 Indirect material 12,000 Indirect labor 37,000...
Calculator Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in...
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...
Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1...
Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $224,500 152,660 Work in process Finished goods $199,810 135,870 133,870 116,740 $404,100 431,040 43,100 Direct labor Materials purchased during January Factory overhead incurred during January: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs 26,040 8,980 7,180 6,290 11,670 a. Prepare a cost of goods manufactured statement for January Sandusky Manufacturing Company Statement of Cost...
January 1, 2018 December 31, 2018 Inventories:
January 1, 2018 December 31, 2018 Inventories: Raw materials $15,500 $11,000 Work in process 22,000 31,000 Finished Goods 8,500 12,500 Costs incurred: Raw materials purchases $72,000 Direct Labor 42,000 Property Taxes - Factory 24,000 Office rent 8,000 Factory utilities 4,000 Indirect materials 7,000 Indirect labor 5,000 Prepare a schedule of cost of goods manufactured for the year ended December 31, 2018. Prepare a schedule of cost of...
ods Manufactured nber 31, 2019 ns) Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory,...
ods Manufactured nber 31, 2019 ns) Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory, January 1 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Finished Goods Inventory, December 31 Direct Materials Purchased, including Freight In Direct Labor Manufacturing Overhead Print Done elds and then continue to the next question. 12. QRS Manufacturing Company has the following data for 2019 (amounts in milions): Click the icon to view the information) Prepare the schedule of cost of goods manufactured...
Q3.ABC Company had the following inventories on May 1, 2019(amounts in SR) (two marks) Raw Material...
Q3.ABC Company had the following inventories on May 1, 2019(amounts in SR) (two marks) Raw Material 30,000 Finished Goods 40,000 WIP - Material 20,000 WIP-Labor 20,000 WIP - Manufacturing overhead 15,000 During the month, the cost of material purchased was 130,000 direct labor cost incurred was 140,000 and factory overhead applicable to production was 70,000, on May 31, inventories were: Raw Material 40,000 Finished Goods 50,000 WIP-Material 15,000 WIP - Labor 25,000 WIP Manufacturing overhead 10,000 Required: Prepare Journal entries...
ABC Company recorded the following information related to their inventory accounts for 2019: January 1, 2019...
ABC Company recorded the following information related to their inventory accounts for 2019: January 1, 2019 December 31, 2019 Direct materials 50,000 37,000 Work in process 38,000 41,000 Finished goods 22,000 35,000 ABC Company's accounting records for 2019 indicated the following costs had been incurred: Direct materials purchased ................... $124,000 Depreciation, factory equipment .............. 30,000 Direct labor ................................. 97,000 Utilities..................................... 18,000 Sales commissions............................. 65,000 Indirect materials............................ 25,000 Depreciation, office equipment ............... 17,000 Production supervisor's salary ............... 76,000 Advertising................................... 61,000 60%...
At December 31, 2019, the end of its fiscal year, Lederman Manufactu Materials inventory, January 1...
At December 31, 2019, the end of its fiscal year, Lederman Manufactu Materials inventory, January 1 Materials inventory, December 31 Work in process inventory, January 1 Work in process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Net delivered cost of materials purchased Direct labor Indirect material Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Selling expenses (total) Non-factory administrative expenses (total) $25,000 15,000 30,000 41,000 51,000 36,000 150,000 148,000 12,000 37,000...
Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in process,...
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 $ ____...
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...
Support Schedule of Cost of Goods Manufactured and sold At December 31, 2019, the end of its fiscal year, Lederman Manufacturing Corporation collected the following data for 2019: Materials inventory, January 1 $25,000 Materials inventory, December 31 15,000 Work in process inventory, January 1 30,000 Work in process inventory, December 31 41,000 Finished goods inventory, January 1 51,000 Finished goods inventory, December 31 36,000 Net delivered cost of materials purchased 150,000 Direct labor 148,000 Indirect material 12,000 Indirect labor 37,000...
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...
Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $224,500 152,660 Work in process Finished goods $199,810 135,870 133,870 116,740 $404,100 431,040 43,100 Direct labor Materials purchased during January Factory overhead incurred during January: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs 26,040 8,980 7,180 6,290 11,670 a. Prepare a cost of goods manufactured statement for January Sandusky Manufacturing Company Statement of Cost...
ods Manufactured nber 31, 2019 ns) Direct Materials, January 1 Direct Materials, December 31 Work-in-Process Inventory, January 1 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Finished Goods Inventory, December 31 Direct Materials Purchased, including Freight In Direct Labor Manufacturing Overhead Print Done elds and then continue to the next question. 12. QRS Manufacturing Company has the following data for 2019 (amounts in milions): Click the icon to view the information) Prepare the schedule of cost of goods manufactured...
Q3.ABC Company had the following inventories on May 1, 2019(amounts in SR) (two marks) Raw Material 30,000 Finished Goods 40,000 WIP - Material 20,000 WIP-Labor 20,000 WIP - Manufacturing overhead 15,000 During the month, the cost of material purchased was 130,000 direct labor cost incurred was 140,000 and factory overhead applicable to production was 70,000, on May 31, inventories were: Raw Material 40,000 Finished Goods 50,000 WIP-Material 15,000 WIP - Labor 25,000 WIP Manufacturing overhead 10,000 Required: Prepare Journal entries...
At December 31, 2019, the end of its fiscal year, Lederman Manufactu Materials inventory, January 1 Materials inventory, December 31 Work in process inventory, January 1 Work in process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Net delivered cost of materials purchased Direct labor Indirect material Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Selling expenses (total) Non-factory administrative expenses (total) $25,000 15,000 30,000 41,000 51,000 36,000 150,000 148,000 12,000 37,000...
Most questions answered within 3 hours.
-
1- What are 5 general characteristics of Botticelli’s
paintings?
2- Describe 5 important traits of Flemish...
asked 19 minutes ago -
A golfer claims that his average golf score at the course he
plays regularly is less...
asked 33 minutes ago -
On May 1, First Bank perfected a security interest in Debtor’s
inventory. On June 1, Bob...
asked 1 hour ago -
A new kind of typhoid shot is being developed by a medical
research team. The old...
asked 2 hours ago -
Write a chemical equation for these reactions. (Use
the lowest possible whole number coefficients.) Include
states-of-matter...
asked 4 hours ago -
For each of the Z-scores below, determine two probabilities
(show four three decimal places): (1) the...
asked 5 hours ago -
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 8 hours ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 8 hours ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 8 hours ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 8 hours ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 8 hours ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 8 hours ago