A new computer virus (AcctBGone) destroyed most of the company records at BackupsRntUs. The computer experts...
44. Completing missing data (Appendix 2.2). After a dispute concerning wages, John Lyon destroyed all information systems files and tossed an incendiary device into the Smiley Company's record vault. Within moments, only a few readable, charred fragments remained from the company's hard-copy backup of the computer files, as follows: Direct Materials Inventory Bal. 4/1 12,000 Manufacturing Overhead Actual Costs for April 14,800 Accounts Payable Work-in-Process Inventory Bal. 4/1 4,500 Bal. 4/30 8,000 Finished Goods Inventory Cost of Goods Sold Bal....
The following T-accounts represent November activity. Materials Inventory EB (11/30) 55,500 Work-In-Process Inventory BB (11/1) 32,100 Dir. Materials 86,500 Cost of Goods Sold Finished Goods Inventory EB (11/30) 103,000 Manufacturing Overhead Control Applied Manufacturing Overhead 267,000 Sales Revenue 771,400 Wages Payable Additional Data • Materials of $115,000 were purchased during the month, and the balance in the Materials Inventory account increased by $11,600. • Overhead is applied at the rate of 150 percent of direct labor cost. • Sales are...
Selected information from the Blake Corporation accounting records for June follows Materials Inventory Work-In-Process Inventory Finished Goods Inventory Cost of Goods Sold BB (6/1) 91,000 453 000 Labor 360,000 EB(6/30 560,000 BB (6 293,000 418,000 838,000 835 000 26,000 Manufacturing Overhead Control Applied Manufacturing Overhead 396,000 370,000 370,000 26,000 Additional information for June follows . Labor wage rate was $20 per hour . During the month, sales revenue was $1,033,000, and selling and administrative costs were $238,000 .This company has...
The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead. $123,900 119,500 77,000 March 1 Inventory balances Raw materials Work in process Finished goods March 31 Inventory balances Raw materials Work in process Finished goods During March Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues $ 85,900 146,900 80,200 $ 118,300 100,400 61,700 352,000 Required a. Prepare a schedule of cost of goods manufactured and sold....
Cost of Goods Sold, Cost of Goods Manufactured Timbuk 3 Company has the following information for March: $21,000 54,250 35,000 Cost of direct materials used in production Direct labor Factory overhead Work in process inventory, March 1 Work in process inventory, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 87,500 92,750 36,750 42,000 a. For March, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Timbuk 3...
Selected information from the Blake Corporation accounting
records for June follows:
Materials Inventory
BB (6/1)
77,000
449,000
404,000
Work-In-Process Inventory
Labor
275,000
EB(6/30)
420,000
Finished Goods Inventory
BB (6/1)
279,000
824,000
821,000
Cost of Goods Sold
12,000
Manufacturing Overhead Control
219,000
219,000
Applied Manufacturing Overhead
231,000
219,000
12,000
Additional information for June follows:
Labor wage rate was $25 per hour.
During the month, sales revenue was $1,024,000, and selling and
administrative costs were $224,000.
This company has no indirect materials...
ACC378 Cost Accounting Assignment CHS Perry Company employs a job-order costing system. Only three jobs Job 205. Job W206, and Job #207- were worked on during January and February. Job #205 was completed February 10: the other two jobs were still in production on February 28, the end of the company's operating year. Job cost sheets on the three jobs follow Job #205 Job Cost Sheet Job #206 Job #207 Totals $ - January costs incurred: Direct material Direct labor...
The following information pertains to Flaxman Manufacturing
Company for March 2018. Assume actual overhead equaled applied
overhead.
March 1
Inventory balances
Raw materials $ 124,600
Work in process 119,200
Finished goods 76,300
March 31
Inventory balances
Raw materials $ 85,400
Work in process 146,100
Finished goods 80,800
During March
Costs of raw materials purchased $ 119,100
Costs of direct labor 101,800
Costs of manufacturing overhead 62,900
Sales revenues 355,000
Required
Prepare a schedule of cost of goods manufactured and
sold....
Job Cost Journal Entries Prior to the beginning of 2019, Lowe Company estimated that it would incur $176,000 of manufacturing overhead cost during 2019, using 16,000 direct labor hours to produce the desired volume of goods. On January 1, 2019, beginning balances of Materials Inventory, Work in Process Inventory, and Finished Goods Inventory were $28,000, $-0-, and $43,000, respectively. Required Prepare general journal entries to record the following for 2019: a. Purchased materials on account, $39,000. Description Debit Credit Support...
The following information pertains to Flaxman Manufacturing Company for March 2015. Assume actual overhead equaled applied overhead. $ 124,400 118,600 76,700 March 1 Inventory balances Raw materials Work in process Finished goods March 31 Inventory balances Raw materials Work in process Finished goods During March Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues $ 86,500 146,300 81,700 $ 119,300 101,300 61,200 353,000 Required: a. Prepare a schedule of cost of goods manufactured and...