Question

December 31, 2019 $30,000 22,200 21,000 49) The following information is available for Koba Company January 1, 2019 2019 Raw materials inventory $ 26,000 Work in process inventory 18,500 Finished goods inventory 30,000 Materials purchased $170,000 Direct labor 230,000 Manufacturing overhead 180,000 Sales 800,000 Instructions (a) Compute cost of goods manufactured 50) Presented below are incomplete 2019 manufacturing cost data for Shell Corporation. Manufacturing Direct Materials Used Direct Labor Total Manufacturing Costs Overhead $48,000 $72,000 $194,000 $95,000 ? $80,000 $305,000 $80,000 $120,000 $260,000 (b) Instructions Determine the missing amounts.

Answer 1

Ans. 49	KOBA   COMPANY
	Schedule of Cost of Goods Manufactured
	Particulars	Amount	Amount
	Direct materials:
	Beginning raw materials inventory	$26,000
	Add: Purchase of direct materials	$170,000
	Raw materials available	$196,000
	Less: Ending raw materials inventory	-$30,000
	Direct materials used		$166,000
	Direct labor		$230,000
	Manufacturing overhead applied		$180,000
	Total manufacturing costs		$576,000
	Add: Beginning Work in process inventory		$18,500
	Less: Ending Work in process inventory		-$22,200
	Cost of goods manufactured		$572,300
Ans. 50
No.	Direct materials used	Direct labor	Manufacturing overhead	Total manufacturing costs
a	$48,000	$72,000	$74,000	$194,000
b	$95,000	$130,000	$80,000	$305,000
c	$60,000	$80,000	$120,000	$260,000
	*Working Notes:
Ans. A	Total manufacturing costs	$194,000
	Direct materials	-$48,000
	Direct labor	-$72,000
	Manufacturing overhead	$74,000
Ans. B	Total manufacturing costs	$305,000
	Direct materials	-$95,000
	Manufacturing overhead	-$80,000
	Direct labor	$130,000
Ans. C	Total manufacturing costs	$260,000
	Direct labor	-$80,000
	Manufacturing overhead	-$120,000
	Direct materials	$60,000