Question

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 Manufactured $326,000 $232.000 Newcastle Manufacturing Company Schedule of Cost of Goods Sold Month Ended January 31 Finished Goods Inventory, beginning balance Cost of Goods Manufactured Cost of Goods Available for Sale Finished Goods Inventory, ending balance Cost of Goods Sold S460.00% S259 300 68. Use the following information to calculate the cost per equivalent unit for direct materials, direct labor. overhead, and in total for the Assembly Department of Dessert Company for the month of June. (9 Points) Direct Direct Materials Labor Overhead Total costs to be accounted for $600,000 $1.200.000 $1,800,000 Total equivalent units accounted for 30,000 units 24.000 units 24,000 units

Answer 1

67]	Schedule of Cost of Goods Manufactured
	WIP inventory, beginning balance		$      1,02,000
	Current period manufacturing costs:
	Direct materials	$           1,18,000
A	Direct labor [224000-54000-118000]	$              52,000
	Manufacturing overhead	$              54,000
B	Total current period manufacturing costs [326000-102000]		$      2,24,000
	Total cost of work in process		$      3,26,000
C	WIP inventory, ending balance [326000-232000]		$         94,000
	Cost of goods manufactured		$      2,32,000
	Schedule of Cost of Goods Sold
D	Finished goods inventory, beginning balance [460000-232000]		$      2,28,000
E	Cost of goods manufactured [from above schedule]		$      2,32,000
	Cost of goods available for sale		$      4,60,000
F	Finished goods inventory, ending balance [460000-259300]		$      2,00,700
	Cost of goods sold		$      2,59,300
68]		Direct Materials	Direct Labor	Overhead	Total cost
	Total costs to be accounted for [1]	$           6,00,000	$   12,00,000	$ 18,00,000	$    36,00,000
	Total equivalent units to be account for [2]	30000	24000	24000
	Cost per equivalent unit = [1]/[2]	$                       20	$                  50	$                 75	$                145