Homework Answers
Answer: d) $1,650,000
.
| Cost of Goods Sold | |
| Beginning finished goods inventory | $80,000 |
| Add: Cost of goods manufactured [Refer schedule of cost of goods manufactured below] | $1,620,000 |
| Goods available for sale | $1,700,000 |
| Less: Ending finished goods inventory | $50,000 |
| Cost of goods sold | $1,650,000 |
.
.
| Cost of Goods Manufactured | |
| Direct materials used | $530,000 |
| Direct labor | $600,000 |
| Manufacturing overhead applied to Work in Process [100,000 hours x $5 per hour] | $500,000 |
| Total manufacturing costs [$530,000 + $600,000 + $500,000] | $1,630,000 |
| Add: Beginning work in process inventory | $150,000 |
| $1,780,000 | |
| Less: Ending work in process inventory | $160,000 |
| Cost of goods manufactured | $1,620,000 |
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10) The records for the previous year for Sarasota Boat Builders, Inc. show the following data:...
10) The records for the previous year for Sarasota Boat Builders, Inc. show the following data:...
10) The records for the previous year for Sarasota Boat Builders, Inc. show the following data: Selling and administrative expenses $300.000 Direct materials used 530,000 Direct labor (100,000 hours) 600,000 Factory overhead predetermined overhead rate $5 per Direct Labor Hour Inventories Ending Work in process Finished goods Beginning 5.150.000. $.80,000 ............. .$.160,000 .....50.000 The cost of goods sold is: a) $ 1,630,000 b) $1,880,000 c) $1,600,000. d) $ 1,650,000.
14) The records for the previous year for Sarasota Boat Builders, Inc., shows the following data:...
14) The records for the previous year for Sarasota Boat Builders, Inc., shows the following data: (4pts) Selling and administrative expenses $300,000 Direct materials used 530,000 Direct labor (100,000 hours) 600,000 Factory overhead application rate $5 per DLH Inventories Ending Beginning $150,000 Work in process $160,000 80,000 50,000 Finished goods The cost of goods sold is $1,630,000 $1.880,000. $1,600,000. $1,650,000
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prepare a statement of cost of
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8/9 i dont understand Manufacturing Company's accounting records reflect the following inventories: Dec 31, 2011 Dec...
8/9 i dont understand
Manufacturing Company's accounting records reflect the following inventories: Dec 31, 2011 Dec 31, 2010 $260.000 Raw materials inventory $310,000 Work in process inventory 300,000 160,000 Finished goods inventory 190,000 150,000 During 2011, 5400,000 of raw materials were purchased, direct labor costs amounted to 300,000, and manufacturing overhead incurred was $480,000. The total raw materials available for use during 2011 for Dolan Manufacturing Company is a. $710,000 b. $260,000. c. $350,000 d. $660,000. 9. Dolan Manufacturing Company's...
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10) The records for the previous year for Sarasota Boat Builders, Inc. show the following data: Selling and administrative expenses $300.000 Direct materials used 530,000 Direct labor (100,000 hours) 600,000 Factory overhead predetermined overhead rate $5 per Direct Labor Hour Inventories Ending Work in process Finished goods Beginning 5.150.000. $.80,000 ............. .$.160,000 .....50.000 The cost of goods sold is: a) $ 1,630,000 b) $1,880,000 c) $1,600,000. d) $ 1,650,000.
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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.....
Part 2: Determine Cost of Goods Manufactured and Cost of Goods Sold for the month of September 2019. Inventories Materials Work in Process Finished Goods September 1 $175,000 100,000 50,000 September 30 $150,000 130,000 30,000 Materials purchased during September $400,000 Direct Labor. Factory Overhead . . $300,000 180,000 . .
4. Information from the records of Cain Corporation for December of the current year is as follows: Sales Selling and administrative expenses Direct materials used Direct labor Factory overhead $1,230,000 210,000 264,000 300,000 405,000 Direct materials Work in process Finished goods Inventories Dec. 1 Dec. 31 $36,000 $42,000 75,000 84,000 69,000 57,000 The conversion costs are: a. $960,000. b. $1,179,000. c. $705,000. d. $564,000. 5. Rancor Inc. had a per-unit conversion cost of $2.50 during April and incurred direct materials...
8/9 i dont understand
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