5. DEF Company makes bowling balls. Beginning finished goods inventory consisted of 16,000 balls with a...
5. DEF Company makes bowling balls. Beginning finished goods inventory consisted of 16,000 balls with a total value of $96,000. During the month, there were 64,000 balls manufactured at a cost of $5 per balls and 70,000 balls were sold. Using the average costing method, determine the value of ending inventory?
Homework Answers
Average cost per unit = (96000+64000*5)/(16000+64000)
= $5.2 per unit
Value of ending inventory = 10000*5.2 = $52000
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5. DEF Company makes bowling balls. Beginning finished
goods inventory consisted of 16,000 balls with a...
5. DEF Company makes bowling balls. Beginning finished goods inventory consisted of 16,000 balls with a...
5. DEF Company makes bowling balls. Beginning finished goods inventory consisted of 16,000 balls with a total value of $96,000. During the month, there were 64,000 balls manufactured at a cost of $5 per balls and 70,000 balls were sold. Using the average costing method, determine the value of ending inventory?
Compute cost of goods sold using the following information: $ Finished goods inventory, beginning Cost of...
Compute cost of goods sold using the following information: $ Finished goods inventory, beginning Cost of goods manufactured Finished goods inventory, ending 800 4,200 1,150 Cost of Goods Sold is Computed as: Cost of goods sold $ 0 Compute cost of goods sold for the period using the following information. Finished goods inventory, beginning Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured Finished goods inventory, ending $ 370,000 85,000 74,100 961,300 298,000 Cost of...
Luker Corporation uses a process costing system. The company had $162,500 of beginning Finished Goods Inventory...
Luker Corporation uses a process costing system. The company had $162,500 of beginning Finished Goods Inventory on October 1. Luker completed and transferred to finished goods a total of $839,000. The ending Finished Goods Inventory balance on October 31 was $160,200. The entry to account for the cost of goods manufactured during October is: Multiple Choice Debit Finished Goods Inventory $839,000; credit Work in Process Inventory $839,000. Debit Finished Goods Inventory $160,200; credit Cost of Goods Sold $160,200. Debit Cost...
21. NorthWest Corp. obtained the following information from its accounting records: Sales Beginning Finished Goods Inventory...
21. NorthWest Corp. obtained the following information from its accounting records: Sales Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold Ending Work-in-Process Inventory $70,000 $10,000 $46,000 $22,000 $30,000 Calculate the Cost of Goods Manufactured for the period. (5 points)
ssume the following: Beginning finished goods inventory Ending finished goods inventory Unadjusted cost of goods sold...
ssume the following: Beginning finished goods inventory Ending finished goods inventory Unadjusted cost of goods sold $10,000 $ 9,900 $ 48,000 What is the cost of goods manufactured? Multiple Choice $47,800 $50,000
Use the following data to determine the cost of goods manufactured: 5. Beginning finished goods inventory...
Use the following data to determine the cost of goods manufactured: 5. Beginning finished goods inventory Direct labor used Beginning work in process inventory General and administrative expenses Direct materials used Ending work in process inventory Indirect labor Ending finished goods inventory Indirect materials Depreciation-factory equipment $10,800 30, 600 7,200 13,500 40,500 9,000 6,300 9,500 13,500 7,500
A manufacturing company has a beginning finished goods inventory of $28,200, cost of goods manufactured of...
A manufacturing company has a beginning finished goods inventory of $28,200, cost of goods manufactured of $58,400, and an ending finished goods inventory of $27,500. The cost of goods sold for this company is: A. $114,100 B. $57,700 C. $2,700 D. $85,900 E. $59,100
For 2020, Bramble Company has cost of goods manufactured of $500400, beginning finished goods inventory of...
For 2020, Bramble Company has cost of goods manufactured of
$500400, beginning finished goods inventory of $25700, and ending
finished goods inventory of $20800. How much is cost of goods
sold?
$505300
$495500
$546900
$453900
For 2020, Bramble Company has cost of goods manufactured of $500400, beginning finished goods inventory of...
For 2020, Bramble Company has cost of goods manufactured of
$500400, beginning finished goods inventory of $25700, and ending
finished goods inventory of $20800. How much is cost of goods
sold?
$505300
$495500
$546900
$453900
Compute cost of goods sold for the period using the following information. Finished goods inventory, beginning...
Compute cost of goods sold for the period using the following information. Finished goods inventory, beginning Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured Finished goods inventory, ending $345,000 83,500 72,300 918,700 283,600 points eBook Hint Print Cost of Goods Sold is Computed as: $ 345,000 Finished goods inventory, beginning References 345,000 $ 345,000 Cost of goods sold
Compute cost of goods sold using the following information: $ Finished goods inventory, beginning Cost of goods manufactured Finished goods inventory, ending 800 4,200 1,150 Cost of Goods Sold is Computed as: Cost of goods sold $ 0 Compute cost of goods sold for the period using the following information. Finished goods inventory, beginning Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured Finished goods inventory, ending $ 370,000 85,000 74,100 961,300 298,000 Cost of...
21. NorthWest Corp. obtained the following information from its accounting records: Sales Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold Ending Work-in-Process Inventory $70,000 $10,000 $46,000 $22,000 $30,000 Calculate the Cost of Goods Manufactured for the period. (5 points)
ssume the following: Beginning finished goods inventory Ending finished goods inventory Unadjusted cost of goods sold $10,000 $ 9,900 $ 48,000 What is the cost of goods manufactured? Multiple Choice $47,800 $50,000
Use the following data to determine the cost of goods manufactured: 5. Beginning finished goods inventory Direct labor used Beginning work in process inventory General and administrative expenses Direct materials used Ending work in process inventory Indirect labor Ending finished goods inventory Indirect materials Depreciation-factory equipment $10,800 30, 600 7,200 13,500 40,500 9,000 6,300 9,500 13,500 7,500
For 2020, Bramble Company has cost of goods manufactured of
$500400, beginning finished goods inventory of $25700, and ending
finished goods inventory of $20800. How much is cost of goods
sold?
$505300
$495500
$546900
$453900
For 2020, Bramble Company has cost of goods manufactured of
$500400, beginning finished goods inventory of $25700, and ending
finished goods inventory of $20800. How much is cost of goods
sold?
$505300
$495500
$546900
$453900
Compute cost of goods sold for the period using the following information. Finished goods inventory, beginning Work in process inventory, beginning Work in process inventory, ending Cost of goods manufactured Finished goods inventory, ending $345,000 83,500 72,300 918,700 283,600 points eBook Hint Print Cost of Goods Sold is Computed as: $ 345,000 Finished goods inventory, beginning References 345,000 $ 345,000 Cost of goods sold
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