Homework Answers
Answer - $133,000
Explanation
Step 1- Calculate the raw materials inventory used in production =
= opening raw material inventory + raw material inventory purchased - raw material ending inventory.
= $15,300 + $61,000 - $16,700 = $59,600
Step 2 - Calculation of total manufacturing cost for the year
= Raw materials inventory used in production (step 1) + Direct labour + total factory overhead
= $59,600 (step 1) + $43,300 + $30,100 = $133,000
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Warren Company needs your help in calculating total manufacturing costs for the year. Earl, an accountant that works at Warren Company, has informed you that all materials used were tracable to specific units of product. Calculate total manufacturing cost for the year. Beginning raw materials inventory Raw material purchases Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead $15,100 59,000 16,500 22,300 27,900 42,300 29,900 Multiple Choice O 07200 $124,200...
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Earl, your manager at Warren Company is asking you to calculate the cost of goods manufactured. Earl has provided you with the following information: overhead cost is $321,000, direct labor cost is $218,000, cost of the beginning work in process inventory is $62,000, direct materials cost is $352,000, and the ending work in process inventory is $57,000. Multiple Choice $575,000 $953,000 $891,000 5896.000 $1,010,000
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