Cost of Materials Used$60,000 Direct Labor costs $55,000 Factory Overhead $32,000 Work in Process, beg. $28,000...
Cost of Materials Used$60,000
Direct Labor costs $55,000
Factory Overhead $32,000
Work in Process, beg. $28,000
Work in Process, end. $18,000
Finished Goods,beg. $28,000
Finished Goods, end. $18,000
What is Cost of Goods Sold?
Homework Answers
Total manufacturing cost=Direct materials used+Direct labor+Factory overhead
=(60,000+55,000+32,000)=147000
Cost of goods manufactured=Total manufacturing cost+Beginning WIP-Ending WIP
=147000+28,000-18,000=157000
Cost of goods sold=Cost of goods manufactured+Beginning Finished Goods-Ending Finished Goods
=157000+28,000-18,000
=$167000
Add Answer to:
Cost of Materials Used$60,000
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Work in Process, beg. $28,000...
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QUESTION 2 Cost of Material Used $ 45,000 Direct Labor Costs $ 48,000 Factory Overhead $...
QUESTION 2 Cost of Material Used $ 45,000 Direct Labor Costs $ 48,000 Factory Overhead $ 39,000 Work in Process, Beg. $ 28,000 Work in Process, End. $ 18,000 Finished Goods, Beg. $ 28,000 Finished Goods, End. $ 18,000 What is the Cost of Goods Sold? O a. $ 152,000 ob. $ 142,000 O c. $ 10,000 d. $ 128,000
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Labels
Actual factory overhead
Depreciation of equipment
Direct labor used
Direct materials used
Factory overhead applied
Factory rent
Factory utilities
Indirect labor
Indirect materials
Required information (The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $27,000; factory rent, $39,000; factory utilities, $24,000; and factory...
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Direct labor costs to Work in Process Inventory.
Overhead costs to Work in Process Inventory.
Indirect materials costs to the Factory Overhead account.
Indirect labor costs to the Factory Overhead account.
Required: Prepare journal entries to assign the above
costs.
Required information Problem 2-2A Source documents, journal entries, overhead, and financial reports LO P1, P2, P3, P4 The following information applies to the questions displayed below.) Bergamo Bay's computer system generated the...
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