Homework Answers
Answer :
(A) Schedule of Direct Material used
| Beginning Raw material Inventory | $ 11000 |
| Add - Cost of raw material purchased | $ 56000 |
| Total Raw material Available | $ 67000 |
| Less - Ending Raw material Inventory | $ 8000 |
| Direct material used | $ 59000 |
( B) Manufacturing overhead incurred
| Factory rent | $ 24000 |
| Factory utilities | $ 3000 |
| Indirect material | $ 6000 |
| Indirect Labor | $ 9000 |
| Total Manufacuring overhead | $ 42000 |
(C) Schedule of cost of goods manufactured
| Direct material Used | $ 59000 |
| Direct Labor | $ 44000 |
| Manufacturing overhead | $ 42000 |
| Total Manufacturing cost | $ 145000 |
| Add - Befinning Work in process inventory | $ 13000 |
| $ 158000 | |
| Less - Ending work in process inventory | $ 12000 |
| Cost of goods manufactured | $ 146000 |
Add Answer to:
Problem 2 Comprehensive Problem Consider the following information: 1.Jan-20 31-Dec-20 Inventories: Direct Materials Work in Process...
January 1, 2018 December 31, 2018 Inventories:
January 1, 2018 December 31, 2018 Inventories: Raw materials $15,500 $11,000 Work in process 22,000 31,000 Finished Goods 8,500 12,500 Costs incurred: Raw materials purchases $72,000 Direct Labor 42,000 Property Taxes - Factory 24,000 Office rent 8,000 Factory utilities 4,000 Indirect materials 7,000 Indirect labor 5,000 Prepare a schedule of cost of goods manufactured for the year ended December 31, 2018. Prepare a schedule of cost of...
Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are...
Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $382.000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $29,000; factory rent, $38,000; factory utilities, $23,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...
Inventories January 1 $125,000 225,000 215,000 December 31 $155,000 210.000 210,000 Materials Work in process Finished...
Inventories January 1 $125,000 225,000 215,000 December 31 $155,000 210.000 210,000 Materials Work in process Finished goods $105,000 Advertising expenses Depreciation expenses- office equipment Depreciation expenses - factory equipment Direct labor Heating, light and power factory Indirect labor Materials purchased Office salaries expenses 15,000 20,000 240,000 8,000 28,000 235,000 82,000 6,500 13,500 11,000 1,100,000 135,000 5,500 3,400 Property taxes-factory Property taxes-office building Rent expenses-factory Sales Sales salaries expenses Supplies-factory Miscellaneous cost - facto Prepare the statement of cost of goods...
Labels Actual factory overhead Depreciation of equipment Direct labor used Direct materials used Factory overhead applied...
Labels
Actual factory overhead
Depreciation of equipment
Direct labor used
Direct materials used
Factory overhead applied
Factory rent
Factory utilities
Indirect labor
Indirect materials
Required information (The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $27,000; factory rent, $39,000; factory utilities, $24,000; and factory...
QUESTION 1 Not complete Marked out of 32.00 Flag question Schedule of Cost of Goods Manufactured...
QUESTION 1 Not complete Marked out of 32.00 Flag question Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bourne Manufacturing Company: Administrative salaries (non-factory) Administrative rent (non-factory) Advertising and promotion expense Depreciation-administrative Depreciation-factory Depreciation-selling Direct labor Factory rent Factory supplies used Finished goods inventory (January 1) Finished goods inventory (December 31) Indirect material used Indirect labor Materials inventory (January 1) Materials inventory (December 31) Net delivered cost of materials purchased $35,000 17,500...
Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are...
Marcelino Co.'s March 31 inventory of raw materials is
$84,000. Raw materials purchases in April are $560,000, and factory
payroll cost in April is $382,000. Overhead costs incurred in April
are: indirect materials, $56,000; indirect labor, $26,000; factory
rent, $32,000; factory utilities, $23,000; and factory equipment
depreciation, $61,000. The predetermined overhead rate is 50% of
direct labor cost. Job 306 is sold for $695,000 cash in April.
Costs of the three jobs worked on in April
follow.
(The following information...
Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are...
Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $29,000; factory rent, $38,000; factory utilities, $23,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...
Inventories: August 1 August 31 Raw materials: $15,000 ? Work in process: $11,000 $10,000 Finished goods:...
Inventories: August 1 August 31 Raw materials: $15,000 ? Work in process: $11,000 $10,000 Finished goods: ? $7.000 Additional Data: Direct labor costs $8,000 Manufacturing overhead costs $10,000 Cost of goods manufactured $26,000 Advertising and selling costs $7.000 Raw materials purchases $9,000 What was the ending. raw materials inventory on August 31? A) $17,000 B) $13,000 C) $31,000 D) $24,000
The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials...
The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials $402,820 $491,440 Work in process 725,080 668,360 Finished goods 696,880 683,100 Advertising expense $333,690 Depreciation expense-office equipment 47,180 Depreciation expense-factory equipment 63,400 Direct labor 756,820 Heat, light, and power-factory 25,060 Indirect labor 88,460 Materials purchased 742,070 Office salaries expense 258,990 Property taxes-factory 20,640 Property taxes-headquarters building 42,760 Rent expense-factory 34,890 Sales 3,474,480 Sales salaries expense 426,570 Supplies-factory 17,200 Miscellaneous costs-factory 10,810 Required: 1. Prepare...
Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are...
Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $29,000; factory rent, $38.000; factory utilities, $23,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...
Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $382.000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $29,000; factory rent, $38,000; factory utilities, $23,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...
Inventories January 1 $125,000 225,000 215,000 December 31 $155,000 210.000 210,000 Materials Work in process Finished goods $105,000 Advertising expenses Depreciation expenses- office equipment Depreciation expenses - factory equipment Direct labor Heating, light and power factory Indirect labor Materials purchased Office salaries expenses 15,000 20,000 240,000 8,000 28,000 235,000 82,000 6,500 13,500 11,000 1,100,000 135,000 5,500 3,400 Property taxes-factory Property taxes-office building Rent expenses-factory Sales Sales salaries expenses Supplies-factory Miscellaneous cost - facto Prepare the statement of cost of goods...
Labels
Actual factory overhead
Depreciation of equipment
Direct labor used
Direct materials used
Factory overhead applied
Factory rent
Factory utilities
Indirect labor
Indirect materials
Required information (The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $27,000; factory rent, $39,000; factory utilities, $24,000; and factory...
QUESTION 1 Not complete Marked out of 32.00 Flag question Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bourne Manufacturing Company: Administrative salaries (non-factory) Administrative rent (non-factory) Advertising and promotion expense Depreciation-administrative Depreciation-factory Depreciation-selling Direct labor Factory rent Factory supplies used Finished goods inventory (January 1) Finished goods inventory (December 31) Indirect material used Indirect labor Materials inventory (January 1) Materials inventory (December 31) Net delivered cost of materials purchased $35,000 17,500...
Marcelino Co.'s March 31 inventory of raw materials is
$84,000. Raw materials purchases in April are $560,000, and factory
payroll cost in April is $382,000. Overhead costs incurred in April
are: indirect materials, $56,000; indirect labor, $26,000; factory
rent, $32,000; factory utilities, $23,000; and factory equipment
depreciation, $61,000. The predetermined overhead rate is 50% of
direct labor cost. Job 306 is sold for $695,000 cash in April.
Costs of the three jobs worked on in April
follow.
(The following information...
Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $29,000; factory rent, $38,000; factory utilities, $23,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...
Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $29,000; factory rent, $38.000; factory utilities, $23,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...
Most questions answered within 3 hours.
-
You have been asked to hide prizes around your house for your
3-year old nephew. His...
asked 13 seconds from now -
Ammonia will decompose into nitrogen and hydrogen at high
temperature. An industrial chemist studying this reaction...
asked 6 minutes ago -
10. Complete the table below
only using hexadecimal numbers:
AL CODE
EBX
EAX
[EAX]
mov eax,...
asked 24 minutes ago -
trust is best established through the combination of ------and
------- .
1. magnanimity and justice
2....
asked 38 minutes ago -
Blood pressure is normally taken on the upper arm at the level
of the heart. Suppose,...
asked 37 minutes ago -
Suppose that the satellite around the earth has an orbit that is
24 KM larger in...
asked 41 minutes ago -
Calculate the [OH (aq)] in limes which have a [H3O*(aq)] of 1.3 x
10 mol/L
asked 39 minutes ago -
A nozzle with a radius of 0.250 cm is attached to a garden hose
with a...
asked 50 minutes ago -
PLEASE do not use any loops for the program; only recursion is
allowed
4. Write a...
asked 59 minutes ago -
Please help me with me. I did the first part to write the operations but in...
asked 56 minutes ago -
Use Cryptool to find the Cryptographic SHA-1 hash value of the
string "abc". The calculator is...
asked 1 hour ago -
You are attempting to calculate a firm’s free cash flow to
equity. You know the following...
asked 1 hour ago