Homework Answers
Computation of direct materials
|
Costs |
|
|
Raw materials beginning |
8000 |
|
+Raw materials purchased |
100,000 |
|
= Raw materials available |
108,000 |
|
-Raw materials, ending |
13,000 |
|
Direct materials |
95,000 |
Computation of total manufacturing costs
|
Costs |
|
|
Direct materials |
95,000 |
|
Direct labor |
80,000 |
|
Manufacturing overhead applied |
110,000 |
|
Total manufacturing costs |
285,000 |
Cost of goods manufactured
|
Costs |
|
|
Work-in-progress, beginning |
16,000 |
|
+Total manufacturing costs |
285,000 |
|
Work-in-progress, available |
301,000 |
|
Work-in-progress, ending |
21,000 |
|
Cost of goods manufactured |
280,000 |
Cost of goods sold
|
Costs |
|
|
Finished goods, beginning |
40,000 |
|
+Cost of goods manufactured |
280,000 |
|
Cost of goods available for sale |
320,000 |
|
-Finished goods, ending |
60,0000 |
|
Cost of goods sold |
260,000 |
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Use the following information to complete a schedule of cost of goods manufactured and a cost...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data:...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data: Raw Materials Inventory, Jan. 1 $10 Raw Materials Inventory, Dec. 31 Work-in-Process Inventory, Jan. 1 Work-in-Process Inventory, Dec. 31 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Raw Materials Purchased, incl. freight 30 Direct Labor 40 Manufacturing (factory) Overhead Schedule of Costs of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Direct Materials Used: Beginning Raw Materials Inventory Purchased of Raw...
Required: Supply the missing information on the following schedule of cost of goods manufactured. Schedule of...
Required: Supply the missing information on the following schedule of cost of goods manufactured. Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2014 Raw materials Beginning inventory Plus: Purchases 119,500 Raw materials available for $ use 148,400 Minus: Ending raw materials inventory Cost of direct raw materials used 123,600 Direct labor Manufacturing overhead 22,600 Total manufacturing costs 308,700 Plus: Beginning work in process inventory Total work in process Minus: Ending work in 46,200 process inventory Cost...
Use the following information for a manufacturer to compute the cost of goods manufactured and cost...
Use the following information for a manufacturer to compute the
cost of goods manufactured and cost of goods sold
Use the following information for a manufacturer to compute cost of goods manufactured and cost of goods sold: 囲(Click the icon to view the information.) Schedule of Cost of Goods Manufactured and Cost of Goods Sold Data Table Direct Materials Used: Ending Inventories: Raw Materials Work-in-Process Finished Goods Other information Purchases of materials Direct labor Beginning $ 29,000 35,000 20,000 $...
Primare Corporation Schedule of Cost of Goods Manufactured Direct materials: $ Beginning raw materials inventory Add:...
Primare Corporation Schedule of Cost of Goods Manufactured Direct materials: $ Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available 10,200 26,800 X 28,700 X 18,500 20,400 X 4,930 Less: Ending raw materials inventory Raw materials used in production Less: Indirect materials included in manufacturing overhead $ Direct labor Manufacturing overhead applied to work in process Total manufacturing costs Add: Beginning work in process inventory 15,470 59,400 88,300 163,440 54,900 218,340 68,900 149,440 X Less: Ending...
4) In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost...
4) In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost of goods manufactured is computed according to which of the following equations? A) Cost of goods manufactured = Total manufacturing costs + Ending work in process inventory - Beginning work in process inventory B) Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory - Ending work in process inventory C) Cost of goods manufactured = Total manufacturing costs +...
Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a...
Required:
1. Prepare a schedule of cost of goods manufactured for the
month.
2. Prepare a schedule of cost of goods sold for the month.
Assume the underapplied or overapplied overhead is closed to Cost
of Goods Sold.
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead $32,000 $ 4,850 $58, 200 $88,700 $ 4,180 Inventories Raw...
Required Supply the missing information on the following schedule of cost of goods manufactured. BOULDER CORPORATION...
Required Supply the missing information on the following schedule of cost of goods manufactured. BOULDER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, Year 2 Raw materials Beginning inventory Plus: Purchases Raw materials available for use Minus: Ending raw materials inventory 240,000 296,000 $ Cost of direct raw materials used $ 248,000 Direct labor 48,000 648,000 Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2018 Raw materials Beginning inventory Plus: Purchases 118,100 Raw materials available for use $ 149,100 Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in process inventory Cost of goods...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2018 Raw materials Beginning inventory Plus: Purchases 118,400 Raw materials available for use $ 148,300 $ 148,300 Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in process inventory Cost...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] Primare Corporation...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Under applied overhead $30,000 $ 4,800 $59,500 $88, 400 $ 4.050 Inventories Raw materials Vork in process Finished goods Beginning $ 10.200 $ 54,200 $ 33,800 Ending $ 19.700 $ 66.800 $43.600 Required: 1. Prepare...
15 Requirements: Prepare the schedule of cost of goods manufactured and cost of goods sold. Data: Raw Materials Inventory, Jan. 1 $10 Raw Materials Inventory, Dec. 31 Work-in-Process Inventory, Jan. 1 Work-in-Process Inventory, Dec. 31 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Raw Materials Purchased, incl. freight 30 Direct Labor 40 Manufacturing (factory) Overhead Schedule of Costs of Goods Manufactured Year Ended December 31, 2018 Beginning Work-in-Process Direct Materials Used: Beginning Raw Materials Inventory Purchased of Raw...
Required: Supply the missing information on the following schedule of cost of goods manufactured. Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2014 Raw materials Beginning inventory Plus: Purchases 119,500 Raw materials available for $ use 148,400 Minus: Ending raw materials inventory Cost of direct raw materials used 123,600 Direct labor Manufacturing overhead 22,600 Total manufacturing costs 308,700 Plus: Beginning work in process inventory Total work in process Minus: Ending work in 46,200 process inventory Cost...
Use the following information for a manufacturer to compute the
cost of goods manufactured and cost of goods sold
Use the following information for a manufacturer to compute cost of goods manufactured and cost of goods sold: 囲(Click the icon to view the information.) Schedule of Cost of Goods Manufactured and Cost of Goods Sold Data Table Direct Materials Used: Ending Inventories: Raw Materials Work-in-Process Finished Goods Other information Purchases of materials Direct labor Beginning $ 29,000 35,000 20,000 $...
Primare Corporation Schedule of Cost of Goods Manufactured Direct materials: $ Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available 10,200 26,800 X 28,700 X 18,500 20,400 X 4,930 Less: Ending raw materials inventory Raw materials used in production Less: Indirect materials included in manufacturing overhead $ Direct labor Manufacturing overhead applied to work in process Total manufacturing costs Add: Beginning work in process inventory 15,470 59,400 88,300 163,440 54,900 218,340 68,900 149,440 X Less: Ending...
4) In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost of goods manufactured is computed according to which of the following equations? A) Cost of goods manufactured = Total manufacturing costs + Ending work in process inventory - Beginning work in process inventory B) Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory - Ending work in process inventory C) Cost of goods manufactured = Total manufacturing costs +...
Required:
1. Prepare a schedule of cost of goods manufactured for the
month.
2. Prepare a schedule of cost of goods sold for the month.
Assume the underapplied or overapplied overhead is closed to Cost
of Goods Sold.
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead $32,000 $ 4,850 $58, 200 $88,700 $ 4,180 Inventories Raw...
Required Supply the missing information on the following schedule of cost of goods manufactured. BOULDER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, Year 2 Raw materials Beginning inventory Plus: Purchases Raw materials available for use Minus: Ending raw materials inventory 240,000 296,000 $ Cost of direct raw materials used $ 248,000 Direct labor 48,000 648,000 Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2018 Raw materials Beginning inventory Plus: Purchases 118,100 Raw materials available for use $ 149,100 Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in process inventory Cost of goods...
Required Supply the missing information on the following schedule of cost of goods manufactured. FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2018 Raw materials Beginning inventory Plus: Purchases 118,400 Raw materials available for use $ 148,300 $ 148,300 Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory Total work in process Minus: Ending work in process inventory Cost...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Under applied overhead $30,000 $ 4,800 $59,500 $88, 400 $ 4.050 Inventories Raw materials Vork in process Finished goods Beginning $ 10.200 $ 54,200 $ 33,800 Ending $ 19.700 $ 66.800 $43.600 Required: 1. Prepare...
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