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cypresscollege.instructure.com Real Clear Politics Assignment-Module 1 Question 7 2 pts Penny Inc reported the following: beginning...
Real Clear Politics Assignment-Module 1 14,200,000 $1,600,000 Question 6 2 pts Regency Inc. has $50,000 of...
Real Clear Politics Assignment-Module 1 14,200,000 $1,600,000 Question 6 2 pts Regency Inc. has $50,000 of ending finished goods inventory as of December 31, 2020. If beginning finished goods inventory was $15,000 and cost of goods sold was $30,000, how much would Magnolia report for cost of goods manufactured? $100,000 $5,000 $65,000 $75,000 2 pts Question 10 ABC Inc has beginning and ending raw materials inventories of $95,000 and $110,000, respectively. If direct materials used were $375,000, what was the...
3. Tellis Tires has the following data: beginning work in process $240,000, direct materials used $120,000,...
3. Tellis Tires has the following data: beginning work in process $240,000, direct materials used $120,000, direct labor $340,000, and total manufacturing overhead $212,000. a. Compute Total Manufacturing Costs b. Compute Total Cost of Work in Process. 4. Green Mountain Co. reported the following year-end information: beginning work in process inventory, $200,000; cost of goods manufactured, $850,000; beginning finished goods inventory, $415,000; ending work in process inventory, $410,000; and ending finished goods inventory, $225,000. Green Mountain Co.'s Cost of Goods...
Almond Group reported the following year-end information: Beginning work in process inventory $200,000 Beginning raw materials...
Almond Group reported the following year-end information: Beginning work in process inventory $200,000 Beginning raw materials inventory 500,000 Ending work in process inventory 800,000 Ending raw materials inventory 500,000 Raw materials purchased 700,000 Direct labor 900,000 Manufacturing overhead 600,000 Almond's cost of goods manufactured for the year is $2,900,000. $2,800,000 $4,200,000. $1,600,000.
Soft Seats Inc. manufactures furniture. They reported the following data for the year: Beginning Work in...
Soft Seats Inc. manufactures furniture. They reported the following data for the year: Beginning Work in Process: $2,000 Ending Work in Process: $3,000 Beginning Finished Goods Inventory: $15,000 Ending Finished Goods Inventory: $9,000 Direct Materials Used: $146,000 Indirect Materials Used: $30,000 Direct Labor: $200,000 Indirect Labor: $40,000 Administrative and Selling Expenses: $150,000 Manufacturing Overhead: $79,000 What was the Cost of Good Manufactured for Soft Seats?
Description Beginning raw materials inventory Ending raw materials inventory Materials purchased Beginning work in process inventory...
Description Beginning raw materials inventory Ending raw materials inventory Materials purchased Beginning work in process inventory Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory Direct Labor Manufacturing overhead (Fixed) Manufacturing overhead (Variable) Revenue General and Administrative Expenses Selling Expenses Amount $200,000 $500,000 $1,800,000 $650,000 $200,000 $300,000 $900,000 $1,500,000 $1,200,000 $800,000 $10,000,000 $2,500,000 $1,200,000 Prepare a variable costing income statement Revenue Cost of goods sold Gross Profit Expenses Total Expenses NET INCOME (LOSS)
Accounting 331 Description Beginning raw materials inventory Ending raw materials inventory Materials purchased Beginning work in...
Accounting 331 Description Beginning raw materials inventory Ending raw materials inventory Materials purchased Beginning work in process inventory Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory Direct Labor Manufacturing overhead (Fixed) Manufacturing overhead (Variable) Revenue General and Administrative Expenses Selling Expenses Amount $200,000 $500,000 $1,800,000 $650,000 $200,000 $300,000 $900,000 $1,500,000 $1,200,000 $800,000 $10,000,000 $2,500,000 $1,200,000 Prepare an absorption costing income statement Revenue Cost of goods sold Gross Profit Expenses Total Expenses NET INCOME (LOSS)
For the month of August 2020. Best Corporation reported the following amounts: 1 Beginning direct materials...
For the month of August 2020. Best Corporation reported the following amounts: 1 Beginning direct materials inventory $ 47,000 Indirect labour 24,000 Ending direct materials inventory 35,000 Salaries of sales people 73,000 Ending finished goods 24,000 Factory supervisor's salary 25,000 Beginning finished goods inventory 18,000 Maintenance on factory equipment 10,000 Ending work in process 13,000 Sales 650,000 Depreciation 100,000 Utilities in sales facility 18,000 Utilities in factory 24,000 Direct material purchases 185,000 Beginning work-in-process inventory 8,000 Direct labour 200,000 1....
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:
For last year, Lewisburn Manufacturing reported the following: Revenue $420,000 Beginning inventory of direct materials, January...
For last year, Lewisburn Manufacturing reported the following: Revenue $420,000 Beginning inventory of direct materials, January 1 22,000 Purchases of direct materials 146,000 Ending inventory of direct materials, December 31 16,000 Direct manufacturing labor 18,000 Indirect manufacturing costs 40,000 Beginning inventory of finished goods, January 1 35,000 Beginning inventory of work in process, January 1 4,000 Ending inventory of finished goods, December 31 36,000 Operating costs 140,000 Ending Inventory of work in process, December 31 110,000 What was Lewisbum's cost...
. For the month of August 2020, Best Corporation reported the following amounts: •Beginning direct materials...
. For the month of August 2020, Best Corporation reported the following amounts: •Beginning direct materials inventory_ Indirect labour •Ending direct materials inventory Salaries of sales people *Ending finished goods -Factory supervisor's salary •Beginning finished goods inventory_ Maintenance on factory equipment •Ending work in process Sales Depreciation Utilities in sales facility Utilities in factory Direct material purchases •Beginning work-in-process inventory Direct labour $ 47,000 24,000 35,000 73,000 24,000 25,000 18,000 10,000 13,000 650,000 100,000 18,000 24,000 185,000 8,000 200,000 1....
Real Clear Politics Assignment-Module 1 14,200,000 $1,600,000 Question 6 2 pts Regency Inc. has $50,000 of ending finished goods inventory as of December 31, 2020. If beginning finished goods inventory was $15,000 and cost of goods sold was $30,000, how much would Magnolia report for cost of goods manufactured? $100,000 $5,000 $65,000 $75,000 2 pts Question 10 ABC Inc has beginning and ending raw materials inventories of $95,000 and $110,000, respectively. If direct materials used were $375,000, what was the...
3. Tellis Tires has the following data: beginning work in process $240,000, direct materials used $120,000, direct labor $340,000, and total manufacturing overhead $212,000. a. Compute Total Manufacturing Costs b. Compute Total Cost of Work in Process. 4. Green Mountain Co. reported the following year-end information: beginning work in process inventory, $200,000; cost of goods manufactured, $850,000; beginning finished goods inventory, $415,000; ending work in process inventory, $410,000; and ending finished goods inventory, $225,000. Green Mountain Co.'s Cost of Goods...
Almond Group reported the following year-end information: Beginning work in process inventory $200,000 Beginning raw materials inventory 500,000 Ending work in process inventory 800,000 Ending raw materials inventory 500,000 Raw materials purchased 700,000 Direct labor 900,000 Manufacturing overhead 600,000 Almond's cost of goods manufactured for the year is $2,900,000. $2,800,000 $4,200,000. $1,600,000.
Description Beginning raw materials inventory Ending raw materials inventory Materials purchased Beginning work in process inventory Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory Direct Labor Manufacturing overhead (Fixed) Manufacturing overhead (Variable) Revenue General and Administrative Expenses Selling Expenses Amount $200,000 $500,000 $1,800,000 $650,000 $200,000 $300,000 $900,000 $1,500,000 $1,200,000 $800,000 $10,000,000 $2,500,000 $1,200,000 Prepare a variable costing income statement Revenue Cost of goods sold Gross Profit Expenses Total Expenses NET INCOME (LOSS)
Accounting 331 Description Beginning raw materials inventory Ending raw materials inventory Materials purchased Beginning work in process inventory Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory Direct Labor Manufacturing overhead (Fixed) Manufacturing overhead (Variable) Revenue General and Administrative Expenses Selling Expenses Amount $200,000 $500,000 $1,800,000 $650,000 $200,000 $300,000 $900,000 $1,500,000 $1,200,000 $800,000 $10,000,000 $2,500,000 $1,200,000 Prepare an absorption costing income statement Revenue Cost of goods sold Gross Profit Expenses Total Expenses NET INCOME (LOSS)
For the month of August 2020. Best Corporation reported the following amounts: 1 Beginning direct materials inventory $ 47,000 Indirect labour 24,000 Ending direct materials inventory 35,000 Salaries of sales people 73,000 Ending finished goods 24,000 Factory supervisor's salary 25,000 Beginning finished goods inventory 18,000 Maintenance on factory equipment 10,000 Ending work in process 13,000 Sales 650,000 Depreciation 100,000 Utilities in sales facility 18,000 Utilities in factory 24,000 Direct material purchases 185,000 Beginning work-in-process inventory 8,000 Direct labour 200,000 1....
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:
For last year, Lewisburn Manufacturing reported the following: Revenue $420,000 Beginning inventory of direct materials, January 1 22,000 Purchases of direct materials 146,000 Ending inventory of direct materials, December 31 16,000 Direct manufacturing labor 18,000 Indirect manufacturing costs 40,000 Beginning inventory of finished goods, January 1 35,000 Beginning inventory of work in process, January 1 4,000 Ending inventory of finished goods, December 31 36,000 Operating costs 140,000 Ending Inventory of work in process, December 31 110,000 What was Lewisbum's cost...
. For the month of August 2020, Best Corporation reported the following amounts: •Beginning direct materials inventory_ Indirect labour •Ending direct materials inventory Salaries of sales people *Ending finished goods -Factory supervisor's salary •Beginning finished goods inventory_ Maintenance on factory equipment •Ending work in process Sales Depreciation Utilities in sales facility Utilities in factory Direct material purchases •Beginning work-in-process inventory Direct labour $ 47,000 24,000 35,000 73,000 24,000 25,000 18,000 10,000 13,000 650,000 100,000 18,000 24,000 185,000 8,000 200,000 1....
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