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$100,000 Purchases 308,000 Ending inventory Direct manufacturing labour Manufacturing overhead Ending work in process inventory 52,000...
During the year, a manufacturing company had the following operating results: Beginning work-in-process inventory $ 45,000...
During the year, a manufacturing company had the following operating results: Beginning work-in-process inventory $ 45,000 Beginning finished goods inventory $ 190,000 Direct materials used in production $ 308,000 Direct labor $ 475,000 Manufacturing overhead incurred $ 250,000 Ending work-in-process inventory $ 67,000 Ending finished goods inventory $ 89,000 What is the cost of goods manufactured for the year? A. $1,112,000 B. $1,134,000 C. $1,033,000 D. $1,011,000
Beginning 20,000 work in process inventory materials used Plus: Direct Beginning raw materials inventory Purchases of...
Beginning 20,000 work in process inventory materials used Plus: Direct Beginning raw materials inventory Purchases of materials 51,000 Available for use 77,000 (26,000) Ending raw materials inventory Direct materials used Direct labor 49,000 costs 173,000 Manufacturing overhead Total manufacturing incurred during the month Total manufacturing to account for Less: Ending work in process inventory Cost of goods manufactured costs (21,000) Elly Manufacturing Company Income Statement Month Ended June 30 Sales revenue Cost of goods sold: Beginning finished goods inventory Cost...
Explain how other manufacturing costs are found. Complete the problem Direct materials inventory Work-in-process inventory Finished...
Explain how other manufacturing costs are found. Complete the
problem
Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 22,200 32,500 5,400 December 31 (Ending) $ 24,800 29,100 7,500 Direct materials used during the year amount to $45,800 and the cost of goods sold for the year was $52.900. Required: Prepare a cost of goods sold statement. Answer is not complete. || 32,500 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning...
57. During the year, a manufacturing company had the following operating Beginning work-in-process inventory Beginning finished...
57. During the year, a manufacturing company had the following operating Beginning work-in-process inventory Beginning finished goods inventory Direct materials used in production Direct labor Manufacturing overhead incurred Ending work-in-process inventory Ending finished goods inventory S 45,000 $190,000 $308,000 $475,000 $250,000 $ 67,000 $ 89,000 results: Xist o h oear? A. $1,011,000 B. $1,134,000 C. $1,033,000 D. $1,112,000 58. During April, the CJG Manufacturing Company had the following operating Sales revenue Gross margin Ending work-in-process inventory Beginning work-in-process inventory Ending...
Hamza Corporation reported the following results for the current year: Revenue Beginning inventory, Direct Materials Ending...
Hamza Corporation reported the following results for the current year: Revenue Beginning inventory, Direct Materials Ending inventory, Direct Materials Purchases - Direct Materials Direct Labor Manufacturing Equipment Depreciation Plant Utilities Indirect Plant Labor Marketing Customer Service Beginning Work-in Process Ending Work-in-Process Beginning Finished Goods Ending Finished Goods $800,000 35,000 20,000 175.000 225,000 90,000 50,000 60,000 30,000 40,000 80,000 85,000 90,000 75,000 Based on the data above, Cost of Goods Sold equals:
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory...
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 21.800 32,800 5,800 December 31 KEnding) $ 24,600 28,900 6,700 Direct materials used during the year amount to $45,500 and the cost of goods sold for the year was $53,100. Required: Prepare a cost of goods sold statement. TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: Direct materials:...
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished...
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 21,500 32,900 5,800 December 31 (Ending) $ 25,200 28,800 7,000 Direct materials used during the year amount to $46,200 and the cost of goods sold for the year was $53,200. Required: Prepare a cost of goods sold statement. 32,900 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: Direct...
Example 5 The BCE Company allocated manufacturing overhead using predetermined overhead rate of 150% of direct...
Example 5 The BCE Company allocated manufacturing overhead using predetermined overhead rate of 150% of direct manufacturing labour. The records show the following for the period: Direct Materials Used $35,000 $60,000 $94,000 Work-in-process control - ending inventory = $ 5,000 Finished Goods control - ending inventory = $15,000 - Direct Manufacturing Labour Manufacturing Overhead Control There were no beginning inventories of work-in-process or finished goods. The cost of goods sold for the period woud be:
The following balances are from the accounts of Crabtree Machining Company Direct materials inventory Work-in-process inventory...
The following balances are from the accounts of Crabtree Machining Company Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 98,600 109,300 42,300 December 31 (Ending) $ 109,500 107,400 45,100 Direct materials purchased during the year amount to $514,200, and the cost of goods sold for the year was $1,865,000 Required: Prepare a cost of goods sold statement. $ 109,300 CRABTREE MACHINING COMPANY Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory...
During the year, a manufacturing company had the following operating results: Beginning work-in-process inventory $ 48,500...
During the year, a manufacturing company had the following operating results: Beginning work-in-process inventory $ 48,500 Beginning finished goods inventory $ 197,000 Direct materials used in production $ 322,000 Direct labor $ 510,000 Manufacturing overhead incurred $ 264,000 Ending work-in-process inventory $ 74,000 Ending finished goods inventory $ 92,500 What is the cost of goods manufactured for the year?
Beginning 20,000 work in process inventory materials used Plus: Direct Beginning raw materials inventory Purchases of materials 51,000 Available for use 77,000 (26,000) Ending raw materials inventory Direct materials used Direct labor 49,000 costs 173,000 Manufacturing overhead Total manufacturing incurred during the month Total manufacturing to account for Less: Ending work in process inventory Cost of goods manufactured costs (21,000) Elly Manufacturing Company Income Statement Month Ended June 30 Sales revenue Cost of goods sold: Beginning finished goods inventory Cost...
Explain how other manufacturing costs are found. Complete the
problem
Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 22,200 32,500 5,400 December 31 (Ending) $ 24,800 29,100 7,500 Direct materials used during the year amount to $45,800 and the cost of goods sold for the year was $52.900. Required: Prepare a cost of goods sold statement. Answer is not complete. || 32,500 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning...
57. During the year, a manufacturing company had the following operating Beginning work-in-process inventory Beginning finished goods inventory Direct materials used in production Direct labor Manufacturing overhead incurred Ending work-in-process inventory Ending finished goods inventory S 45,000 $190,000 $308,000 $475,000 $250,000 $ 67,000 $ 89,000 results: Xist o h oear? A. $1,011,000 B. $1,134,000 C. $1,033,000 D. $1,112,000 58. During April, the CJG Manufacturing Company had the following operating Sales revenue Gross margin Ending work-in-process inventory Beginning work-in-process inventory Ending...
Hamza Corporation reported the following results for the current year: Revenue Beginning inventory, Direct Materials Ending inventory, Direct Materials Purchases - Direct Materials Direct Labor Manufacturing Equipment Depreciation Plant Utilities Indirect Plant Labor Marketing Customer Service Beginning Work-in Process Ending Work-in-Process Beginning Finished Goods Ending Finished Goods $800,000 35,000 20,000 175.000 225,000 90,000 50,000 60,000 30,000 40,000 80,000 85,000 90,000 75,000 Based on the data above, Cost of Goods Sold equals:
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 21.800 32,800 5,800 December 31 KEnding) $ 24,600 28,900 6,700 Direct materials used during the year amount to $45,500 and the cost of goods sold for the year was $53,100. Required: Prepare a cost of goods sold statement. TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: Direct materials:...
The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 21,500 32,900 5,800 December 31 (Ending) $ 25,200 28,800 7,000 Direct materials used during the year amount to $46,200 and the cost of goods sold for the year was $53,200. Required: Prepare a cost of goods sold statement. 32,900 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: Direct...
Example 5 The BCE Company allocated manufacturing overhead using predetermined overhead rate of 150% of direct manufacturing labour. The records show the following for the period: Direct Materials Used $35,000 $60,000 $94,000 Work-in-process control - ending inventory = $ 5,000 Finished Goods control - ending inventory = $15,000 - Direct Manufacturing Labour Manufacturing Overhead Control There were no beginning inventories of work-in-process or finished goods. The cost of goods sold for the period woud be:
The following balances are from the accounts of Crabtree Machining Company Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 98,600 109,300 42,300 December 31 (Ending) $ 109,500 107,400 45,100 Direct materials purchased during the year amount to $514,200, and the cost of goods sold for the year was $1,865,000 Required: Prepare a cost of goods sold statement. $ 109,300 CRABTREE MACHINING COMPANY Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory...
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