Homework Answers
Answer- CYCLE MANUFACTURING COMPANY
SCHEDULE OF RAW MATERIALS PLACED IN PRODUCTION
MONTH ENDED JANUARY 31
| Raw Materials Inventory, Beginning balance ($60,000-$20,000) | $40,000 |
| Add:Current period raw material purchases | $20,000 |
| Raw materials available for production | $60,000 |
| Less: Raw Materials Inventory, Ending balance ($60,000-$50,000) | $10,000 |
| Raw Materials Paced in production | $50,000 |
| Less: Indirect materials included in manufacturing overhead | $4,000 |
| Direct Materials placed in production ($50,000-$4,000) | $46,000 |
CYCLE MANUFACTURING COMPANY
SCHEDULE OF COST OF GOODS MANUFACTURED
MONTH ENDED JANUARY 31
| WIP Inventory, beginning balance | $90,000 | |
|
Add:current period manufacturing costs:- |
||
| Direct Materials (From schedule raw material placed in production) | $46,000 | |
| Direct Labor ($326,000-$46,000-$64,000) | $216,000 | |
| Manufacturing Overhead | $64,000 | |
| Total Current Period Manufacturing Costs | $326,000 | |
| Total cost of work in process ($90,000+$326,000) | $416,000 | |
| Less: WIP Inventory, Ending Balance | $78,000 | |
| Cost of Goods Manufactured | $338,000 |
Kindly give me thumbs up if u like my answer...Thanks!!!
Add Answer to:
24. Use the information below to calculate the missing amounts (shown by letters) in the Schedule...
25. Use the information below to calculate the missing amounts (shown by letters) in the Schedule...
25. Use the information below to calculate the missing amounts (shown by letters) in the Schedule of Cost of Goods Manufactured and the Schedule of Cost of Goods Sold. (6 Points) $ 102,000 Newenstle Manufacturing Company Schedule of Cost of Goods Manufactured Month Ended January 31 WIP Inventory, beginning balance Current period manufacturing costs: Direct materials 118,000 Direct labor Manufacturing overhead 54,000 Total current period manufacturing costs Total cost of work in process WIP Inventory, ending balance Cost of Goods...
67 Use the information below to calculate the missing amounts (shown by letters in the Schedule...
67 Use the information below to calculate the missing amounts (shown by letters in the Schedule of Cod of Goods Manufactured and the Schedule of Cost of Goods Sold. 6 Points) S 102.000 Newcastle Manufacturing Company Schedule of Cost of Goods Manufactured Month Ended January 31 WIP Inventory, beginning balance Current period manufacturing costs: Direct materials 118.000 Direct labor Manufacturing overhead 54,000 Total current period manufacturing costs Total cost of work in process WIP Inventory, ending balance Cost of Goods...
Required: Supply the missing information on the following schedule of cost of goods manufactured. Schedule of...
Required: Supply the missing information on the following schedule of cost of goods manufactured. Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2014 Raw materials Beginning inventory Plus: Purchases 119,500 Raw materials available for $ use 148,400 Minus: Ending raw materials inventory Cost of direct raw materials used 123,600 Direct labor Manufacturing overhead 22,600 Total manufacturing costs 308,700 Plus: Beginning work in process inventory Total work in process Minus: Ending work in 46,200 process inventory Cost...
Required Supply the missing information on the following schedule of cost of goods manufactured. BOULDER CORPORATION...
Required Supply the missing information on the following schedule of cost of goods manufactured. BOULDER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, Year 2 Raw materials Beginning inventory Plus: Purchases Raw materials available for use Minus: Ending raw materials inventory 240,000 296,000 $ Cost of direct raw materials used $ 248,000 Direct labor 48,000 648,000 Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2018 Raw materials Beginning inventory Plus: Purchases 118,100 Raw materials available for use $ 149,100 Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in process inventory Cost of goods...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2018 Raw materials Beginning inventory Plus: Purchases 118,400 Raw materials available for use $ 148,300 $ 148,300 Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in process inventory Cost...
Certain iter descriptions and amounts are missing from the monthly schedule of cost of goods manufactured...
Certain iter descriptions and amounts are missing from the monthly schedule of cost of goods manufactured and income statement of Elly Manufacturing Company Click the icon to view the schedule of cost of goods manufactured.) (Click the icon to view the income statement.) Fill in the blanks with the missing words, and replace the Xs with the correct amounts. Now we will fill in the missing information on the income statement. Select the heading, then complete the statement Elly Manufacturing...
Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM...
Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods manufactured. _ $ Superior Company Schedule of Cost Goods Manufactured Direct materials: Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Raw materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs Add: Beginning work in process inventory 52,000 265,000 317,000...
E14.9 (LO 3) An incomplete cost of goods manufactured schedule is presented below. Determine missing amounts...
E14.9 (LO 3) An incomplete cost of goods manufactured schedule is presented below. Determine missing amounts in cost of goods manufactured schedule. $210,000 Hobbit Company Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 Work in process (1/1) Direct materials Raw materials inventory (1/1) $ ? Add: Raw materials purchases 158,000 Total raw materials available for use Less: Raw materials inventory (12/31) 22,500 Direct materials used $180,000 Direct labor Manufacturing overhead Indirect labor 18,000 Factory depreciation 36,000...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data:...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data: Raw Materials Inventory, Jan. 1 $10 Raw Materials Inventory, Dec. 31 Work-in-Process Inventory, Jan. 1 Work-in-Process Inventory, Dec. 31 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Raw Materials Purchased, incl. freight 30 Direct Labor 40 Manufacturing (factory) Overhead Schedule of Costs of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Direct Materials Used: Beginning Raw Materials Inventory Purchased of Raw...
25. Use the information below to calculate the missing amounts (shown by letters) in the Schedule of Cost of Goods Manufactured and the Schedule of Cost of Goods Sold. (6 Points) $ 102,000 Newenstle Manufacturing Company Schedule of Cost of Goods Manufactured Month Ended January 31 WIP Inventory, beginning balance Current period manufacturing costs: Direct materials 118,000 Direct labor Manufacturing overhead 54,000 Total current period manufacturing costs Total cost of work in process WIP Inventory, ending balance Cost of Goods...
67 Use the information below to calculate the missing amounts (shown by letters in the Schedule of Cod of Goods Manufactured and the Schedule of Cost of Goods Sold. 6 Points) S 102.000 Newcastle Manufacturing Company Schedule of Cost of Goods Manufactured Month Ended January 31 WIP Inventory, beginning balance Current period manufacturing costs: Direct materials 118.000 Direct labor Manufacturing overhead 54,000 Total current period manufacturing costs Total cost of work in process WIP Inventory, ending balance Cost of Goods...
Required: Supply the missing information on the following schedule of cost of goods manufactured. Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2014 Raw materials Beginning inventory Plus: Purchases 119,500 Raw materials available for $ use 148,400 Minus: Ending raw materials inventory Cost of direct raw materials used 123,600 Direct labor Manufacturing overhead 22,600 Total manufacturing costs 308,700 Plus: Beginning work in process inventory Total work in process Minus: Ending work in 46,200 process inventory Cost...
Required Supply the missing information on the following schedule of cost of goods manufactured. BOULDER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, Year 2 Raw materials Beginning inventory Plus: Purchases Raw materials available for use Minus: Ending raw materials inventory 240,000 296,000 $ Cost of direct raw materials used $ 248,000 Direct labor 48,000 648,000 Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2018 Raw materials Beginning inventory Plus: Purchases 118,100 Raw materials available for use $ 149,100 Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in process inventory Cost of goods...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2018 Raw materials Beginning inventory Plus: Purchases 118,400 Raw materials available for use $ 148,300 $ 148,300 Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in process inventory Cost...
Certain iter descriptions and amounts are missing from the monthly schedule of cost of goods manufactured and income statement of Elly Manufacturing Company Click the icon to view the schedule of cost of goods manufactured.) (Click the icon to view the income statement.) Fill in the blanks with the missing words, and replace the Xs with the correct amounts. Now we will fill in the missing information on the income statement. Select the heading, then complete the statement Elly Manufacturing...
Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods manufactured. _ $ Superior Company Schedule of Cost Goods Manufactured Direct materials: Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Raw materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs Add: Beginning work in process inventory 52,000 265,000 317,000...
E14.9 (LO 3) An incomplete cost of goods manufactured schedule is presented below. Determine missing amounts in cost of goods manufactured schedule. $210,000 Hobbit Company Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 Work in process (1/1) Direct materials Raw materials inventory (1/1) $ ? Add: Raw materials purchases 158,000 Total raw materials available for use Less: Raw materials inventory (12/31) 22,500 Direct materials used $180,000 Direct labor Manufacturing overhead Indirect labor 18,000 Factory depreciation 36,000...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data: Raw Materials Inventory, Jan. 1 $10 Raw Materials Inventory, Dec. 31 Work-in-Process Inventory, Jan. 1 Work-in-Process Inventory, Dec. 31 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Raw Materials Purchased, incl. freight 30 Direct Labor 40 Manufacturing (factory) Overhead Schedule of Costs of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Direct Materials Used: Beginning Raw Materials Inventory Purchased of Raw...
Most questions answered within 3 hours.
-
How does a linear regression allow you to better estimate
trends, costs, and other factors in...
asked 7 minutes ago -
1. (15%) Describe the difference between a pull (Kanban), push
and CONWIP production systems.
asked 3 minutes ago -
QUESTION 5
The total area under the Z distribution curve is equal to:
a.
10
b....
asked 12 minutes ago -
Using Python
The variables x and y refer to numbers. Write a code segment
that prompts...
asked 26 minutes ago -
If
the coefficient of static friction between a box and the floor is
0.35 with what...
asked 28 minutes ago -
A die is designed to punch holes with a radius of 1.08 10-2 m in
a...
asked 33 minutes ago -
government can increase import through
a. export subsidies
b. tax breaks
c. increase import tax
d....
asked 33 minutes ago -
Draw the following in the proper skeletal structure or line
angle formula.
5,6,6-tribromo-3,8-dicyclopropyl-7-isopentyldodecane
asked 39 minutes ago -
Two blocks of masses m1 and m2 hang at the ends of a string that
passes...
asked 39 minutes ago -
Linear programming is an excellent technique yet is not applied
nearly enough in the “real world.”...
asked 49 minutes ago -
What three alkenes yield 3-methylpentane on catalytic
hydrogenation?
asked 48 minutes ago -
In JAVA Create a program with an array with the following
data:
50 12 31 76...
asked 51 minutes ago