Homework Answers
Correct flow of manufacturing cost
| 1 | Raw material |
| 2 | Work in process |
| 3 | Finished goods |
| 4 | Cost of goods sold |
So answer is c) Raw material, work in process, Finished goods, Cost of goods sold
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Which of the following is the correct flow of manufacturing costs? Oa. raw materials, finished goods,...
QUESTION 15 Which of the following is the correct flow of manufacturing costs? a. raw materials,...
QUESTION 15 Which of the following is the correct flow of manufacturing costs? a. raw materials, work in process, finished goods, cost of goods sold Ob.cost of goods sold, raw materials, work in process, finished goods c. raw materials, finished goods, cost of goods sold, work in process d. work in process, finished goods, raw materials, cost of goods sold
Manufacturing overhead has an overallocated balance of $8,000, raw materials inventory balance is $62,400; work in...
Manufacturing overhead has an overallocated balance of $8,000, raw materials inventory balance is $62,400; work in process inventory is $34,700, finished goods inventory is $25,300, and cost of goods sold is $135,200. After adjusting for the overallocated manufacturing overhead, what is cost of goods sold? OA, S135200 OB, $97,100 OC. $143,200 O D. $127 200
Adelphia Manufacturing issued $80,000 of direct materials and $8,000 of indirect materials for production. Which of...
Adelphia Manufacturing issued $80,000 of direct materials and $8,000 of indirect materials for production. Which of the following journal entries would correctly record the transaction? 88,000 88.000 88,000 80,000 8,000 O A. Manufacturing Overhead Raw Materials Inventory O B . Raw Materials Inventory Finished Goods Inventory Work-in-Process Inventory C. Work-in - Process Inventory Raw Materials Inventory OD. Work-in - Process Inventory Manufacturing Overhead Raw Materials Inventory B.8.000 88.000 80,000 8.000 The cost of goods sold for Frye Manufacturing in the...
С For the year just ended, Cole Corporation's manufacturing costs (raw materials used, direct labour, and...
С For the year just ended, Cole Corporation's manufacturing costs (raw materials used, direct labour, and manufacturing overhead) totalled $1,500,000 Beginning work-in-process and finished goods inventories were $60,000 and $250,000, respectively. Cole's balance sheet also revealed respective Cost of Good Manufactured and cost of Goods Sold were 1,470,000 and 1,540,000. On the basis of this information, how much would the company report as dosing work in process inventory and closing finished goods inventory? NO М. Select one: a. Closing work-in-process...
Exercise 2 FINISHED GOOD NVENTORY Raw Material MANUFACTURING MANUFACTURING PROCESS 2 "X PROCESS Raw Material As...
Exercise 2 FINISHED GOOD NVENTORY Raw Material MANUFACTURING MANUFACTURING PROCESS 2 "X PROCESS Raw Material As the flow chart shows, the company uses two raw materials: "X" and "Y Raw material "X" is used in the manufacturing process 1, and raw material "Y" is used in the manufacturing process 2, them the finished good product is obtained Data available are as follows Concepts Raw materials "X" invento Raw materials "Y" inve Work-in-process "1" invento Work-in-process "2" invento Finished goods invento...
Direct materials, direct labor and manufacturing overhead initially flow into which of the following categories? Finished...
Direct materials, direct labor and manufacturing overhead initially flow into which of the following categories? Finished goods inventory, Indirect costs, Cost of goods sold, Work in process inventory
Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory...
Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory $4,300 $480 $520 $620 $730 $210 $220 $420 $490 $310 $200 What was the cost of direct materials used? O A. $690 OB. $480 OC. $470 OD. $430 Click to select your answer
1) 2) 3) 4) Which of the following will not be found on the balance sheet...
1)
2)
3)
4)
Which of the following will not be found on the balance sheet of a manufacturing company? Oa. work in process Ob. cost of goods sold Oc. finished goods Od. materials Jensen Company reports the following: Direct materials used Direct labor incurred Factory overhead incurred Operating expenses $345,000 250,000 400,000 175,000 Jensen Company's period costs are Oa. $400,000 Ob. $175,000 Oc. $250,000 Od. $345,000 The direct materials costs and direct labor costs incurred by a production department...
Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials...
Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,115,000 36,000 51,600 67,500 158,200 235,000 22, 200 45,000 5,250 57,000 90,000 141,000 48,300 42,400 74,500 DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended...
Selected financial information for Brookeville Manufacturing is presented in the following table (000s omitted). Sales revenue...
Selected financial information for Brookeville Manufacturing is presented in the following table (000s omitted). Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory $5,000 S450 $540 S630 $690 $200 S190 $400 $430 $290 $270 What was cost of goods sold? OA. OB. OC. OD. $1,650 $890 $1,620 $1,580
QUESTION 15 Which of the following is the correct flow of manufacturing costs? a. raw materials, work in process, finished goods, cost of goods sold Ob.cost of goods sold, raw materials, work in process, finished goods c. raw materials, finished goods, cost of goods sold, work in process d. work in process, finished goods, raw materials, cost of goods sold
Manufacturing overhead has an overallocated balance of $8,000, raw materials inventory balance is $62,400; work in process inventory is $34,700, finished goods inventory is $25,300, and cost of goods sold is $135,200. After adjusting for the overallocated manufacturing overhead, what is cost of goods sold? OA, S135200 OB, $97,100 OC. $143,200 O D. $127 200
Adelphia Manufacturing issued $80,000 of direct materials and $8,000 of indirect materials for production. Which of the following journal entries would correctly record the transaction? 88,000 88.000 88,000 80,000 8,000 O A. Manufacturing Overhead Raw Materials Inventory O B . Raw Materials Inventory Finished Goods Inventory Work-in-Process Inventory C. Work-in - Process Inventory Raw Materials Inventory OD. Work-in - Process Inventory Manufacturing Overhead Raw Materials Inventory B.8.000 88.000 80,000 8.000 The cost of goods sold for Frye Manufacturing in the...
С For the year just ended, Cole Corporation's manufacturing costs (raw materials used, direct labour, and manufacturing overhead) totalled $1,500,000 Beginning work-in-process and finished goods inventories were $60,000 and $250,000, respectively. Cole's balance sheet also revealed respective Cost of Good Manufactured and cost of Goods Sold were 1,470,000 and 1,540,000. On the basis of this information, how much would the company report as dosing work in process inventory and closing finished goods inventory? NO М. Select one: a. Closing work-in-process...
Exercise 2 FINISHED GOOD NVENTORY Raw Material MANUFACTURING MANUFACTURING PROCESS 2 "X PROCESS Raw Material As the flow chart shows, the company uses two raw materials: "X" and "Y Raw material "X" is used in the manufacturing process 1, and raw material "Y" is used in the manufacturing process 2, them the finished good product is obtained Data available are as follows Concepts Raw materials "X" invento Raw materials "Y" inve Work-in-process "1" invento Work-in-process "2" invento Finished goods invento...
Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory $4,300 $480 $520 $620 $730 $210 $220 $420 $490 $310 $200 What was the cost of direct materials used? O A. $690 OB. $480 OC. $470 OD. $430 Click to select your answer
1)
2)
3)
4)
Which of the following will not be found on the balance sheet of a manufacturing company? Oa. work in process Ob. cost of goods sold Oc. finished goods Od. materials Jensen Company reports the following: Direct materials used Direct labor incurred Factory overhead incurred Operating expenses $345,000 250,000 400,000 175,000 Jensen Company's period costs are Oa. $400,000 Ob. $175,000 Oc. $250,000 Od. $345,000 The direct materials costs and direct labor costs incurred by a production department...
Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,115,000 36,000 51,600 67,500 158,200 235,000 22, 200 45,000 5,250 57,000 90,000 141,000 48,300 42,400 74,500 DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended...
Selected financial information for Brookeville Manufacturing is presented in the following table (000s omitted). Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Beginning finished goods inventory Ending finished goods inventory $5,000 S450 $540 S630 $690 $200 S190 $400 $430 $290 $270 What was cost of goods sold? OA. OB. OC. OD. $1,650 $890 $1,620 $1,580
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