Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The...

Question

Question

Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The following accounting info

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Amount of total manufacturing cost: $94800

Working backwards from the cost of goods manufactured:

Direct materials used	24275
Direct labor	50375
Manufacturing overhead applied	20150
Total current manufacturing costs	94800
Add: Beginning work in process	18800
Total cost of work in process	113600
Less: Ending work in process	14750
Cost of goods manufactured $	98850

Add a comment

Answer 2

Similar Homework Help Questions

Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The...

Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The following accounting information remained in the office files: Cost of goods sold: $87,500 Work in process inventory, January 1, 2016: 21,500 Work in process inventory, December 31, 2016: 17,000 Selling and Administrative Expenses: 20,000 Net Income: 35,000 Factory overhead: 21,500 Direct materials inventory, January 1, 2016: 28,000 Direct materials inventory, December 31, 2016: 15,250 Cost of goods manufactured: 106,500 Finished goods inventory, January 1,...
Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The...

Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The following accounting information remained in the office files: Cost of goods sold Work in process inventory, January 1, 2016 Work in process inventory, December 31, 2016 Selling and Administrative Expenses Net Income Factory overhead Direct materials inventory, January 1, 2016 Direct materials inventory, December 31, 2016 Cost of goods manufactured Finished goods inventory, January 1, 2016 $ 83,750 20,000 15,750 18,000 32,500 20,750 27,000...
Conrad, Inc. recently lost a portion of its records in an office fire. The following information...

Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records. Cost of Goods Sold $ 65,000 Work-in-Process Inventory, Beginning 10,500 Work-in-Process Inventory, Ending 9,000 Selling and Administrative Expense 15,000 Finished Goods Inventory, Ending 15,000 Finished Goods Inventory, Beginning ? Direct Materials Used ? Factory Overhead Applied 12,000 Operating Income 14,000 Direct Materials Inventory, Beginning 11,000 Direct Materials Inventory, Ending 6,000 Cost of Goods Manufactured 60,000 Direct labor cost...

Conrad, Inc. recently lost a portion of its records in an office fire. The following information...

Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records. Cost of Goods Sold $ 69,500 Work-in-Process Inventory, Beginning 12,300 Work-in-Process Inventory, Ending 9,900 Selling and Administrative Expense 17,250 Finished Goods Inventory, Ending 17,475 Finished Goods Inventory, Beginning ? Direct Materials Used ? Factory Overhead Applied 12,900 Operating Income 14,495 Direct Materials Inventory, Beginning 11,405 Direct Materials Inventory, Ending 6,315 Cost of Goods Manufactured 64,230 Direct labor cost...
Conrad, Inc. recently lost a portion of its records in an office fire. The following information...

Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records. 30 $66,500 Cost of Goods Sold 11,100 9,300 15,750 Work-in-Process Inventory, Beginning Work-in-Process Inventory, Ending Selling and Administrative Expense Finished Goods Inventory, Ending Finished Goods Inventory, Beginning Direct Materials Used Skipped 15,825 Factory Overhead Applied Operating Income Direct Materials Inventory, Beginning Direct Materials Inventory, Ending 12,300 14,165 11,135 6,105 61,410 Cost of Goods Manufactured Direct labor cost incurred...
The following information is available for Sylte, Inc. for the year ended December 31, 2016: Materials...

The following information is available for Sylte, Inc. for the year ended December 31, 2016: Materials Inventory, January 1 77,350 Materials Inventory, December 31 95,550 Work in Process Inventory, January 1 109,200 Work in Process Inventory, December 31 96,200 Finished Goods Inventory, January 1 113,750 Finished Goods Inventory, December 31 100,100 Advertising Expense 68,250 Depreciation Expense-Office Equipment 22,750 Depreciation Expense-Factory Equipment 14,560 Direct Labor 186,550 Utilities-Factory 5,850 Indirect Labor 23,660 Materials Purchased 123,500 Office Salaries Expense 77,350 Property Taxes-Factory 4,095 Property Taxes-Office 13,650 Rent Expense-Factory 6,825 Sales 864,500 Sales Salary Expense 136,500 Supplies-Factory 3,250 Miscellaneous Costs-Factory 4,420 Calculate the following for...

Sleep Tight, Inc. manufactures comforters. The estimated inventories on January 1 for finished goods, work in...

Sleep Tight, Inc. manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $36,000, $35,000 and $29,000 respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $46,000, $36,000 and $21,000 respectively. Direct materials purchases were $575,000. Direct labor was $219,000 for the year. Factory overhead was $151,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Sleep Tight, Inc. Cost of Goods Sold Budget...
Sleep Tight, Inc. manufactures comforters. The estimated inventories on January 1 for finished goods, work in...

Sleep Tight, Inc. manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $38,000, $31,000 and $25,000 respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $45,000, $37,000 and $22,000 respectively. Direct materials purchases were $560,000. Direct labor was $224,000 for the year. Factory overhead was $149,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Sleep Tight, Inc. Cost of Goods Sold Budget...
Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in process,...

Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $38,000, $33,000, and $26,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $45,000, $38,000, and $20,000, respectively. Direct materials purchases were $575,000, direct labor was $206,000 for the year, and factory overhead was $152,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Finished goods inventory, January 1 $ ____...

Cost of goods sold budget Pasadena Candle Inc. A budget of estimated unit production.budgeted production of...

Cost of goods sold budget Pasadena Candle Inc. A budget of estimated unit production.budgeted production of 785,000 candles for the year. Each candle requires molding. Assume that six minutes are required to mold each candle. If molding labor costs $18 per hour, determine the direct labor cost budget for the year. Wax is required to produce a candle. Assume 487,125 pounds of material will be purchased during the year. If candle wax costs $1.24 per pound, determine the direct materials...

Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The...

Homework Answers