Question

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

Answer 1

49)

Schedule of Cost of goods manufactured

Direct materials:
Beginning raw material inventory	26,000
Add: Purchases of raw material	170,000
Total raw materials available	196,000
Less: Ending raw materials inventory	-30,000
Raw materials used in production	166,000
Direct labor	230,000
Manufacturing overhead	180,000
Total manufacturing cost	410,000
Add: Beginning work in process inventory	18,500
	428,500
Less: Ending work in process inventory	- 22,200
Cost of goods manufactured	406,300

50)

a) Total manufacturing costs = Direct material used + Direct labor + Manufacturing overhead

194,000 = 48,000 + 72,000 + Manufacturing overhead

Manufacturing overhead = $74,000

b) Total manufacturing costs = Direct material used + Direct labor + Manufacturing overhead

305,000 = 95,000 + Direct labor + 80,000

Direct labor = $130,000

c) Total manufacturing costs = Direct material used + Direct labor + Manufacturing overhead

260,000 = Direct material used + 80,000 + 120,000

Direct material used = $60,000

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