Exercise 14-16 Cost flows in manufacturing LO C5
The following chart shows how costs flow through a business as a product is manufactured. Some boxes in the flowchart show cost amounts. Compute the cost amounts for the input boxes.
Homework Answers
The following chart shows how costs flow through a business as a product Is manufactured. Some boxes In the flowchart s...
The following chart shows how costs flow through a business as a product Is manufactured. Some boxes In the flowchart show cost amounts. Compute the cost amounts for the Input boxes.
QS 14-8 Manufacturing cost flows LO C5
QS 14-8 Manufacturing cost flows LO C5 Compute the total manufacturing cost for a manufacturer with the following information
Exercise 14-11 Cost of goods sold computation LO P1 Precision Manufacturing Unimart $156,000 $312,000 530,000 Beginning...
Exercise 14-11 Cost of goods sold computation LO P1 Precision Manufacturing Unimart $156,000 $312,000 530,000 Beginning inventory Merchandise Finished goods Cost of purchases Cost of goods manufactured Ending inventory Merchandise Finished goods 920,000 56,000 50,000 Compute cost of goods sold for each of these two companies for the year. Complete this question by entering your answers in the tabs below. Merch Business Mfg Business Compute cost of goods sold for the company year in Merchandising Business. UNIMART Computation of Cost...
Exercise 14-11 Cost of goods sold computation LO P1 Precision Unimart Manufacturing $275,000 $450,000 Beginning inventory...
Exercise 14-11 Cost of goods sold computation LO P1 Precision Unimart Manufacturing $275,000 $450,000 Beginning inventory Merchandise Finished goods Cost of purchases Cost of goods manufactured Ending inventory Merchandise Finished goods 500,000 900,000 115,000 375,000 Compute cost of goods sold for each of these two companies for the year ended December 31, 2017 Complete this question by entering your answers in the tabs below. Merch Mfg Business Business Compute cost of goods sold for the company year ended December 31,...
Exercise 14-11 Cost of goods sold computation LO P1 Unimart Precision Manufacturing $315,000 $630,000 Beginning inventory...
Exercise 14-11 Cost of goods sold computation LO P1 Unimart Precision Manufacturing $315,000 $630,000 Beginning inventory Merchandise Finished goods Cost of purchases Cost of goods manufactured Ending inventory Merchandise Finished goods 460,000 840,000 215,000 209,000 Compute cost of goods sold for each of these two companies for the year ended December 31, 2015. Merchandising Business: UNIMART Partial Income Statement For Year Ended December 31, 2015 Cost of goods sold: Goods available for sale Cost of goods sold Manufacturing Business: PRECISION...
The following chart shows how costs flow through a business as a product is manufactured. Some...
The following chart shows how costs flow through a business as a product is manufactured. Some boxes in the flowchart show cost amounts, Compute the cost amounts for the input boxes. Materials Activity Raw materials purchases $562,000 Beginning row materials inventory 5153,000 Raw materials available for use in production - Ending raw materials inventory $190,000 Direct materials used In production Production Activity Direct laborused in production $380.000 Factory overhead used in production $780,000 Beginning work in procese entory $92.000 Total...
1. value: 1.50 points QS 14-7 Cost of goods sold LO P1 Compute cost of goods...
1. value: 1.50 points QS 14-7 Cost of goods sold LO P1 Compute cost of goods sold for 2015 using the following information. $ Finished goods inventory, Dec. 31, 2014 Work in process inventory, Dec. 31, 2014 Work in process inventory, Dec. 31, 2015 Cost of goods manufactured, 2015 Finished goods inventory, Dec. 31, 2015 340,000 86,500 72,900 932,800 304,000 Cost of Goods Sold is Computed as: Cost of goods sold 2 . value: 1.50 points QS 14-10 Cost of...
Exercise 21-7 Standard unit cost; cost variances LO P2 A manufactured product has the following information...
Exercise 21-7 Standard unit cost; cost variances LO P2 A manufactured product has the following information for August. Direct materials Direct labor Overhead Units manufactured Total manufacturing costs Standard 2 lbs. per unit @ $7.50 per lb. 0.5 hours per unit @ $56 per hour $72 per direct labor hour 14.00 $1.184,400 (1) Compute the standard cost per unit. (2) Compute the total budgeted cost for production in August (3) Compute the total cost variance for August. (Indicate the effect...
Exercise 14-15 Schedule of cost of goods manufactured and cost of goods sold LO P1, P2...
Exercise 14-15 Schedule of cost of goods manufactured and cost of goods sold LO P1, P2 Beck Manufacturing reports the following information in T-account form for 2019. ventory 20.900 N 47,000 Raw Materials Inventory Begin. Inv. Purchases 48,000 Avail. for use 58,900 DM used End. Iny. 11,900 Work in Process Inventory Begin. Inv. 16,600 DM used 47,000 Direct labor 29, 300 Overhead 55,500 Manuf. costs 148,400 Cost of goods manuf. End. Inv. 13,800 Finished Goods Inventory Begin. Inv. 22,000 Cost...
Exercise 14-15 Schedule of cost of goods manufactured and cost of goods sold LO P1, P2...
Exercise 14-15 Schedule of cost of goods manufactured and cost of goods sold LO P1, P2 Beck Manufacturing reports the information below for 2017. Raw Materials Inventory Begin. Inv. 11,100 Purchases 48,500 Avail. for use 59,600 DM used 52,500 End. Inv. 7,100 Work in Process Inventory Begin. Inv. 14,600 DM used 52,500 Direct labor 30,300 Overhead 66,500 Avail. for mfg. 163,900 Cost of goods mfg 149,600 End. Inv. 14,300 Finished Goods Inventory Begin. Inv. 18,700 Cost of goods mfg 149,600...
QS 14-8 Manufacturing cost flows LO C5 Compute the total manufacturing cost for a manufacturer with the following information
Exercise 14-11 Cost of goods sold computation LO P1 Precision Manufacturing Unimart $156,000 $312,000 530,000 Beginning inventory Merchandise Finished goods Cost of purchases Cost of goods manufactured Ending inventory Merchandise Finished goods 920,000 56,000 50,000 Compute cost of goods sold for each of these two companies for the year. Complete this question by entering your answers in the tabs below. Merch Business Mfg Business Compute cost of goods sold for the company year in Merchandising Business. UNIMART Computation of Cost...
Exercise 14-11 Cost of goods sold computation LO P1 Precision Unimart Manufacturing $275,000 $450,000 Beginning inventory Merchandise Finished goods Cost of purchases Cost of goods manufactured Ending inventory Merchandise Finished goods 500,000 900,000 115,000 375,000 Compute cost of goods sold for each of these two companies for the year ended December 31, 2017 Complete this question by entering your answers in the tabs below. Merch Mfg Business Business Compute cost of goods sold for the company year ended December 31,...
Exercise 14-11 Cost of goods sold computation LO P1 Unimart Precision Manufacturing $315,000 $630,000 Beginning inventory Merchandise Finished goods Cost of purchases Cost of goods manufactured Ending inventory Merchandise Finished goods 460,000 840,000 215,000 209,000 Compute cost of goods sold for each of these two companies for the year ended December 31, 2015. Merchandising Business: UNIMART Partial Income Statement For Year Ended December 31, 2015 Cost of goods sold: Goods available for sale Cost of goods sold Manufacturing Business: PRECISION...
The following chart shows how costs flow through a business as a product is manufactured. Some boxes in the flowchart show cost amounts, Compute the cost amounts for the input boxes. Materials Activity Raw materials purchases $562,000 Beginning row materials inventory 5153,000 Raw materials available for use in production - Ending raw materials inventory $190,000 Direct materials used In production Production Activity Direct laborused in production $380.000 Factory overhead used in production $780,000 Beginning work in procese entory $92.000 Total...
1. value: 1.50 points QS 14-7 Cost of goods sold LO P1 Compute cost of goods sold for 2015 using the following information. $ Finished goods inventory, Dec. 31, 2014 Work in process inventory, Dec. 31, 2014 Work in process inventory, Dec. 31, 2015 Cost of goods manufactured, 2015 Finished goods inventory, Dec. 31, 2015 340,000 86,500 72,900 932,800 304,000 Cost of Goods Sold is Computed as: Cost of goods sold 2 . value: 1.50 points QS 14-10 Cost of...
Exercise 21-7 Standard unit cost; cost variances LO P2 A manufactured product has the following information for August. Direct materials Direct labor Overhead Units manufactured Total manufacturing costs Standard 2 lbs. per unit @ $7.50 per lb. 0.5 hours per unit @ $56 per hour $72 per direct labor hour 14.00 $1.184,400 (1) Compute the standard cost per unit. (2) Compute the total budgeted cost for production in August (3) Compute the total cost variance for August. (Indicate the effect...
Exercise 14-15 Schedule of cost of goods manufactured and cost of goods sold LO P1, P2 Beck Manufacturing reports the following information in T-account form for 2019. ventory 20.900 N 47,000 Raw Materials Inventory Begin. Inv. Purchases 48,000 Avail. for use 58,900 DM used End. Iny. 11,900 Work in Process Inventory Begin. Inv. 16,600 DM used 47,000 Direct labor 29, 300 Overhead 55,500 Manuf. costs 148,400 Cost of goods manuf. End. Inv. 13,800 Finished Goods Inventory Begin. Inv. 22,000 Cost...
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