Question

Incomplete manufacturing cost data for Horizon Company for 2017 are presented as follows for four different situations Indicate the missing amount for each letter Direct Materials Used Direct Labor Used Manufacturing Overhead Total Manufacturing Costs Work in Process Work inn ProcesS 12/31 Cost of Goods Manufactured $141,400 204,100 101,700 $121,600 $91,100 $35,600 $365,600 454,000 267,200 289,400 136,600 45,100 475,100 83,600 62,300 83,300 73,400 77,100 46,000 271,000

Answer 1

	Direct	Direct	Manufacturing	Total	Work	Work in	Cost of
	Materials	labor	overhead	Manufacturing	in process	process	goods
	Used	used		costs	1-Jan	31-Dec	manufactured
1)	121,600	141,400	91,100	354,100	35,600	24,100	365,600
2)	113,300	204,100	136,600	454,000	66,200	45,100	475,100
3)	83,600	101,700	81,900	267,200	62,300	83,300	246,200
4)	73,400	138,900	77,100	289,400	46,000	64,400	271,000
			Cost of Goods Manufactured Schedule
			for the year ended Dec 31,2017
	Work in process ,Jan 1					35,600
	Direct materials used				121,600
	Direct labor used				141,400
	Manufacturing overhead				91,100
	total manufacturing cost					354,100
	Total work in process					389,700
	less:Work in process ,Dec 31					24,100
	Cost of goods manufactured					365,600