Homework Answers
Cost of goods manufactured schedule
| Direct Materials | $40,000 | |
| Direct labor | 100,000 | |
| Overhead applied | 120,000 | |
| Total manufacturing costs | $260,000 | |
| Add: Beginning work in process | 30,000 | |
| Total cost of work in process | $290,000 | |
| Less: Ending work in process | 12,000 | |
| Cost of goods manufactured | $278,000 |
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Given the following compute the cost of goods manufactured. Direct material cost: $40,000 Direct labor cost:...
The following shows the Schedule of Direct Materials Used, Cost of Goods Manufactured Cost of Goods...
The following shows the Schedule of Direct Materials Used, Cost of Goods Manufactured Cost of Goods Sold and Income Statement. Fill in the missing amounts for blanks 11 to 18 below. Beginning inventory, raw material. ..............11. ? Ending inventory, raw material .................. Purchase of raw material ...... 100,000 Direct material used. ... 70,000 Direct labour ......... ..................12. Manufacturing overhead ........ 250,000 Total manufacturing costs ........ 520,000 Beginning inventory, work in process.......... 35,000 Ending inventory, work in process .............. 13. Cost...
Use the following information to complete a schedule of cost of goods manufactured and a cost...
Use the following information to complete a schedule of cost of goods manufactured and a cost of goods sold schedule: Given Info Beginning $8,000 $16,000 $40,000 Ending $13,000 $21,000 $60,000 Raw Materials Inv. Work in Process Inv. Finished Good Inv. Purchase of Raw Materials Direct Labor Manufacturing Overhead Applied $100,000 $80,000 $110,000 Calculate Direct Materials: Direct Materials Calculation Costs Raw Materials, Beginning $ +Raw Materials Purchased $ =Raw Materials Available GA -Raw Materials, Ending $ =Direct Materials $ Calculate Total...
Prepare the schedule of cost of goods manufactured for Barton Company using the following information. Direct...
Prepare the schedule of cost of goods manufactured for Barton Company using the following information. Direct materials Direct labor Factory overhead costs Work in process, beginning Work in process, ending $ 242,500 73,000 28,000 160,000 144, 250 Barton Company Schedule of Cost of Goods Manufactured Total manufacturing costs Total cost of work in process Cost of goods manufactured $ Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory...
prepare a statement of cost of goods manufactured Statement of Cost of Goods Manufactured The following...
prepare a statement of cost of
goods manufactured
Statement of Cost of Goods Manufactured The following data relate to the Denver Company's operations for the year ended December 31, 20XX: Direct materials purchases ............................ $100,000 Indirect material usage........................ 10,000 Indirect labor........ 10,000 Direct labor.. 300,000 Sales salaries ...................... 100,000 Administrative salaries.................. 50,000 Factory water and electricity ................. 20,000 Advertising expenses....................... 60,000 Depreciation-sales and general office ............. 40,000 Depreciation-factory ........... 50,000 Beginning Inventories: Direct materials. $20,000 Work-in-process .... 60,000 Finished goods.....
Use the following information for a manufacturer to compute cost of goods manufactured and cost of...
Use the following information for a manufacturer to compute cost of goods manufactured and cost of goods sold: (Click the icon to view the information.) First, compute cost of goods manufactured. Schedule of Cost of Goods Manufactured x Direct Materials Used: Data Table Balances: Beginning $ 20,000 Ending $ 30,000 42,000 37,000 Direct Materials Used Direct Materials Work-in-Process Inventory Finished Goods Inventory Other information: Purchases of direct materials 17,000 29,000 $ 78,000 Total Manufacturing Costs incurred during the Year Total...
Compute the cost of Goods Manufactured and Cost of Goods Sold for Strike Marine Company for...
Compute the cost of Goods Manufactured and Cost of Goods Sold for Strike Marine Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only direct materials. E: (Click the icon to view the data.) 71,000 Plus: Purchases of direct materials Materials available for use Less: Ending raw materials inventory Data Table - X Direct materials used Calculate the cost of goods manufactured. End of Beginning of Year End of Year Year Raw...
PA2-8 Recording Manufacturing Costs, Preparing a Cost of Goods Manufactured Report, and Calculating Income from Operations...
PA2-8 Recording Manufacturing Costs, Preparing a Cost of Goods
Manufactured Report, and Calculating Income from Operations [LO
2-3, 2-4, 2-5, 2-6]
Dobson Manufacturing Company uses a job order cost system with
manufacturing overhead applied to products on the basis of direct
labor dollars. At the beginning of the most recent period, the
company estimated its total direct labor cost to be $65,000 and its
total manufacturing overhead cost to be $91,000.
Several incomplete general ledger accounts show the transactions
that...
Cost of goods manufactured
Primare Corporation has provided the following data concerning last month's manufacturing operations.Purchases of raw materials $30,000Indirect materials included in manufacturing overhead $5,000Direct labor $58,000Manufacturing overhead applied to work in process $87,000Underapplied overhead $4,000Inventories Beginning EndingRaw materials $12,000 $18,000Work in process $56,000 $65,000Finished goods $35,000 $42,000Requirement 1:Calculate the cost of goods manufactured for the month.Requirement 2:Calculate the cost of goods sold for the month.
Primare Corporation Schedule of Cost of Goods Manufactured Direct materials: $ Beginning raw materials inventory Add:...
Primare Corporation Schedule of Cost of Goods Manufactured Direct materials: $ Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available 10,200 26,800 X 28,700 X 18,500 20,400 X 4,930 Less: Ending raw materials inventory Raw materials used in production Less: Indirect materials included in manufacturing overhead $ Direct labor Manufacturing overhead applied to work in process Total manufacturing costs Add: Beginning work in process inventory 15,470 59,400 88,300 163,440 54,900 218,340 68,900 149,440 X Less: Ending...
Consider the following partially completed schedules of cost of goods manufactured. Compute the missing amounts (Click...
Consider the following partially completed schedules of cost of goods manufactured. Compute the missing amounts (Click the icon to view the schedules.) Jones Inc. Fit Apparel 2,900 Snyder Corp. 40,900 5 35,000 20,900 10,700 10.600 1.200 800 Beginning Work-in-Process Inventory Direct Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Costs incurred during the Year Total Manufacturing Costs to Account For Ending Work in Process Inventory 8,300 (2300) 125 400) Cost of Goods Manufactured Enter any number in the edit fields...
The following shows the Schedule of Direct Materials Used, Cost of Goods Manufactured Cost of Goods Sold and Income Statement. Fill in the missing amounts for blanks 11 to 18 below. Beginning inventory, raw material. ..............11. ? Ending inventory, raw material .................. Purchase of raw material ...... 100,000 Direct material used. ... 70,000 Direct labour ......... ..................12. Manufacturing overhead ........ 250,000 Total manufacturing costs ........ 520,000 Beginning inventory, work in process.......... 35,000 Ending inventory, work in process .............. 13. Cost...
Use the following information to complete a schedule of cost of goods manufactured and a cost of goods sold schedule: Given Info Beginning $8,000 $16,000 $40,000 Ending $13,000 $21,000 $60,000 Raw Materials Inv. Work in Process Inv. Finished Good Inv. Purchase of Raw Materials Direct Labor Manufacturing Overhead Applied $100,000 $80,000 $110,000 Calculate Direct Materials: Direct Materials Calculation Costs Raw Materials, Beginning $ +Raw Materials Purchased $ =Raw Materials Available GA -Raw Materials, Ending $ =Direct Materials $ Calculate Total...
Prepare the schedule of cost of goods manufactured for Barton Company using the following information. Direct materials Direct labor Factory overhead costs Work in process, beginning Work in process, ending $ 242,500 73,000 28,000 160,000 144, 250 Barton Company Schedule of Cost of Goods Manufactured Total manufacturing costs Total cost of work in process Cost of goods manufactured $ Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory...
prepare a statement of cost of
goods manufactured
Statement of Cost of Goods Manufactured The following data relate to the Denver Company's operations for the year ended December 31, 20XX: Direct materials purchases ............................ $100,000 Indirect material usage........................ 10,000 Indirect labor........ 10,000 Direct labor.. 300,000 Sales salaries ...................... 100,000 Administrative salaries.................. 50,000 Factory water and electricity ................. 20,000 Advertising expenses....................... 60,000 Depreciation-sales and general office ............. 40,000 Depreciation-factory ........... 50,000 Beginning Inventories: Direct materials. $20,000 Work-in-process .... 60,000 Finished goods.....
Use the following information for a manufacturer to compute cost of goods manufactured and cost of goods sold: (Click the icon to view the information.) First, compute cost of goods manufactured. Schedule of Cost of Goods Manufactured x Direct Materials Used: Data Table Balances: Beginning $ 20,000 Ending $ 30,000 42,000 37,000 Direct Materials Used Direct Materials Work-in-Process Inventory Finished Goods Inventory Other information: Purchases of direct materials 17,000 29,000 $ 78,000 Total Manufacturing Costs incurred during the Year Total...
Compute the cost of Goods Manufactured and Cost of Goods Sold for Strike Marine Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only direct materials. E: (Click the icon to view the data.) 71,000 Plus: Purchases of direct materials Materials available for use Less: Ending raw materials inventory Data Table - X Direct materials used Calculate the cost of goods manufactured. End of Beginning of Year End of Year Year Raw...
PA2-8 Recording Manufacturing Costs, Preparing a Cost of Goods
Manufactured Report, and Calculating Income from Operations [LO
2-3, 2-4, 2-5, 2-6]
Dobson Manufacturing Company uses a job order cost system with
manufacturing overhead applied to products on the basis of direct
labor dollars. At the beginning of the most recent period, the
company estimated its total direct labor cost to be $65,000 and its
total manufacturing overhead cost to be $91,000.
Several incomplete general ledger accounts show the transactions
that...
Primare Corporation Schedule of Cost of Goods Manufactured Direct materials: $ Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available 10,200 26,800 X 28,700 X 18,500 20,400 X 4,930 Less: Ending raw materials inventory Raw materials used in production Less: Indirect materials included in manufacturing overhead $ Direct labor Manufacturing overhead applied to work in process Total manufacturing costs Add: Beginning work in process inventory 15,470 59,400 88,300 163,440 54,900 218,340 68,900 149,440 X Less: Ending...
Consider the following partially completed schedules of cost of goods manufactured. Compute the missing amounts (Click the icon to view the schedules.) Jones Inc. Fit Apparel 2,900 Snyder Corp. 40,900 5 35,000 20,900 10,700 10.600 1.200 800 Beginning Work-in-Process Inventory Direct Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Costs incurred during the Year Total Manufacturing Costs to Account For Ending Work in Process Inventory 8,300 (2300) 125 400) Cost of Goods Manufactured Enter any number in the edit fields...
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